Economy

House prices under 'large' pressure to fall: rpt

(Agencies)
Updated: 2010-07-20 14:03

Chinese house prices face "very large" pressure to fall in the second half on weakening demand and increasing supply, according to a commentary in the latest edition of a central bank publication, China Finance.

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Government measures to curb property speculation have had "initial" results and further effects will be evident in the second half, wrote Zhou Jiang, of the housing ministry's research center. The article is in the July 16 edition of the magazine.

Declines in cities where prices previously rose quickly will be "relatively large," Zhou wrote without naming cities.