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China s Home Prices Climb Further as Undersupply Outweighs Curbs bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Wuhan saw 1 percent growth in new home housing prices from March to April. (Getty)
New home prices in many of China’s cities climbed at their fastest rate in eight months in April, despite government efforts to curb speculation.
Sale prices in 70 cities grew 0.48 percent last month over March, the most since August of last year, according to Bloomberg News.
Existing home prices grew by 0.4 percent, the same rate as from February to March. But they are 35 percent higher than they were a year ago, and last summer the government started instituting policies to slow growth and deflate any bubble that might be forming.
China Pledges to Tackle Housing Problem in Biggest Cities
Bloomberg 3/5/2021
(Bloomberg)
China pledged to solve the housing problem in large cities at its top legislative session, as monetary loosening after the pandemic spurred a rush to real estate in the biggest hubs, pushing home affordability there to the worst ever.
“We will address prominent housing issues in large cities,” Premier Li Keqiang told the National People’s Congress in Beijing on Friday. “We will make every effort to address the housing difficulties faced by our people, especially new urban residents and young people.”
Li repeated President Xi Jinping’s mantra that houses are “for living in, not for speculation” in the key report, signaling that policy makers may maintain a tight rein on the bubble-prone sector. “We will keep the prices of land and housing as well as market expectations stable,” he said.
The Straits Times
Existing-home prices of certain popular projects in Shanghai surged more than 30 per cent last year.PHOTO: EPA-EFE
PublishedMar 2, 2021, 2:23 pm SGT
https://str.sg/JV7u
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