• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

Chinese house prices on the rise

Nov 18 2012 10:25
Beijing - More Chinese cities reported rises in house prices in October than in September, data showed Sunday, the first gain in three months as the government works to keep the property market in check.

Prices in 35 out of 70 cities tracked by the government rose month-on-month, the National Bureau of Statistics said in a statement, up from 31 cities in September, and the first increase since July.

Prices of new homes dropped in October in 17 cities and remained unchanged in the remaining 18 cities, it said.

China has implemented measures to control property prices for more than two years, including prohibitions on buying second homes, requiring higher minimum down-payments and levying property taxes in some cities.

Officials have said that property control measures are aimed at bringing down home prices to a "reasonable" level.

China's slowing economy has recently exhibited signs of a turnaround, with exports, retail sales and industrial production data all showing renewed vigour.

Expansion in the world's second-largest economy has slowed for seven straight quarters through the end of September, but economists are expecting growth to accelerate during the current three-month period through December.

Beijing expects gross domestic product to grow 7.5% in 2012, a marked slowdown from the 9.3% recorded in 2011 and 10.4% in 2010.

The government is aiming to rebalance China's economy away from reliance on exports and more towards domestic demand in coming years in hopes it can steer growth onto a stable and sustainable track.
china  |  house prices


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote