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Market Update: China New Home Prices Rise the Least in 4 Months
Average new home prices in China’s 70 major cities rose by 4.6 percent year-on-year in July 2021, after a 4.7 percent gain a month earlier. This was the weakest rise in new home prices since March, as government cooling measures were enough to offset strong property demand. Among China’s biggest cities, Guangzhou recorded the largest home price increase (10.9 percent vs 11.6 percent in June), followed by Chongqing (8.3 percent vs 8 percent), Shanghai (4.5 percent vs 4.6 percent), Beijing (5.4 percent vs 4.9 percent), Shenzhen (3.3 percent vs 3.5 percent), and Tianjin (4.3 percent vs 4.2 percent). On a monthly basis, new home prices went up by 0.3 percent in July, following a 0.5 percent rise in June. source: National Bureau of Statistics of China [/s2If]
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