Housing prices in major Chinese cities rose 10.3 percent year on year in July, slowing from the 11.4 percent growth in June, the National Bureau of Statistics said Tuesday.
New home sales in Shanghai fell 11 percent in the week ended August 8 from the previous week to 137,000 square meters, property consultant Shanghai UWin Real Estate Information Services Co said in an e-mailed statement Monday.
The runaway trend of soaring housing prices in China's southern island province of Hainan has been reined in thanks to a series of local government policies, a provincial housing official said Friday.
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.
Land prices in 105 major Chinese cities rose 9.29 percent year-on-year to 2,756 yuan ($406.5) per square meter in the second quarter this year, official figures released Monday indicated.
Chinese property stocks rallied on Monday on speculation the government may loosen the policy curbs on the country's overheated real estate sector after gains in housing prices in major cities slowed.
China's overheated real estate market may see a big change and the property prices will drop in the fourth quarter of this year after a series of tightening measures to cool down the market.
Mainland stocks slumped, driving the benchmark index down the most in six weeks, on concern the nation's property curbs and Europe's debt crisis will slow growth in the world's third-largest economy.
Floor space transactions in the 35 cities monitored by China Index Academy went up last week (June 21 -27), the Shanghai Securities News reported Tuesday, citing a weekly report from the academy.
Shenzhen’s average housing price in May declined to 18,998 yuan ($2,788) per square meter, which is the first time the city’s housing prices dropped below 20,000 yuan per sq m since December 2009, Shanghai Securities News reported Thursday.
Only four of 20 large Chinese cities saw residential land sales last week, according to a real estate sector report.
Lease prices for middle- and high-end apartments and houses increased more than 20 percent over last year.
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