February 10, 2011 / 8:14 AM / 9 years ago

China home prices up 0.95 pct in Jan -CREIS

BEIJING, Feb 10 (Reuters) - Residential property prices in China rose 0.95 percent in January from a month earlier, up from December’s increase of 0.90 percent, a private data provider said on Thursday.

The China Real Estate Index System (CREIS) said home prices stood at an average 8,645 yuan per square meter in the 100 cities it covers in its survey.

The CREIS data is closely watched by investors who believe that it reflects property price trends better than the government’s figures reported by the National Bureau of Statistics (NBS).

The official agency, which looks at 70 major Chinese cities in compiling its index, is likely to release its January report in the next few days.

China has taken a slew of steps to contain property inflation since late 2009, including a trial of a long-debated property tax in Shanghai and Chongqing that began last month.

Following is a table comparing the CREIS and NBS property price data (month-on-month percent changes):

Jan Dec Nov Oct Sep CREIS 0.95 0.90 0.82 0.66 0.70

NBS ^ 0.3 0.2 0.5 0.0 Note: CREIS tracks only residential property, while the NBS also includes the non-residential sector.

^ Not yet published. (Reporting by Langi Chiang and Simon Rabinovitch; Editing by Ken Wills)

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