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China new home prices rise slows to 7.7 pct y/y in March
April 18, 2014 / 1:35 AM / 4 years ago

China new home prices rise slows to 7.7 pct y/y in March

BEIJING, April 18 (Reuters) - Average new home prices in China’s 70 major cities rose 7.7 percent in March from a year earlier, easing from the previous month’s 8.7 percent rise, according to Reuters calculations based on official data published on Friday.

In month-on-month terms, prices rose 0.2 percent in March, slowing from February’s rise of 0.3 percent.

The National Bureau of Statistics said new home prices in Beijing rose 10.3 percent in March from a year earlier, compared with February’s increase of 12.2 percent.

Shanghai’s home prices were up 13.1 percent in March from a year ago, versus 15.7 percent growth in February.

China’s property market has lost steam since late 2013 as authorities tightened controls on speculative buying, and as banks made it harder for home buyers and small developers to get loans. (Reporting By Xiaoyi Shao and Jonathan Standing)

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