Mon, Nov 19, 2012 - Page 14 News List

Chinese housing prices in further rises

PROPERTY CONTROLS:The Chinese government will keep a close eye on a market that has undergone prices surges in the past, with steady sales and mild growth key

Bloomberg

It was the best month since developers started releasing monthly data in January 2009.

China’s housing sales climbed 6.6 percent to 3.88 trillion yuan in the first 10 months of the year, while investment in homes, office buildings, malls and other real estate were up 15.4 percent at 5.76 trillion yuan.

The ministry is on “high alert” if transaction volumes and home prices increase “substantially,” and is “actively” studying expanding a property tax trial, Xinhua news agency said on Tuesday, citing the housing minister.

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