Subscribe free to our newsletters via your
. Earth Science News .

More Chinese cities record new home price increases
by Staff Writers
Beijing (AFP) Aug 18, 2012

New home prices in more Chinese cities rose in July than in the previous month, the government said Saturday, amid cautious optimism the country's property market may be bottoming out.

Prices in 50 out of the 70 Chinese cities tracked by the government increased in July from June, the National Bureau of Statistics said in a statement. That represented a doubling from 25 in June.

China has been taking steps to tighten its housing market for more than two years. Measures have included prohibitions on buying second homes, raising minimum down-payments and imposing property taxes in certain areas.

The government, however, has also recently taken steps to boost the country's slowing economy by cutting interest rates twice in quick succession and encouraging lending by reducing reserve requirements at banks.

Cutting interest rates reduces the cost of taking out a mortgage and can stimulate buying.

Prices of new homes in another 11 cities were unchanged in July compared with 24 in June, statistics bureau said. Prices in a total of nine cities fell on a monthly basis, down from 21 in June.

Government officials have attributed the slowdown of the world's second-largest economy, which grew 7.6 percent on year from April to June, to the weakening of the property market as well as sluggish foreign demand for China's exports.

"Over the past few months, there have been signs that the slowdown in China's residential property market may be ending, with a number of cities beginning to report consistent increases in property prices," Mark Budden of built asset consultancy EC Harris said in a statement.

He added, however, that it was "a little premature" to call an end to the property slowdown.

"If the market does begin to heat up again, central government is likely to step in to curb speculation," Budden said.


Related Links
The Economy

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Argentina plans $750M YPF bond issue
Buenos Aires (UPI) Aug 14, 2012
Argentina has unveiled plans to raise $750 million in bonds on the back of Spanish oil company YPF, which it nationalized earlier this year. Analysts said the ambitious bond issue could be part of an attempt by President Cristina Fernandez de Kirchner to rehabilitate Argentina in the international capital markets, where it is rated with caution because of its 2002 sovereign default. ... read more

Landslide fatalities are greater than previously thought

Assamese flee Bangalore over safety fears

Studies examine health consequences of meltdown, damage to Fukushima nuclear power plants in Japan

Two African boat migrants dead, 160 rescued off Malta

Good vibrations

Britain and Ireland tuning into Netflix

Apple is most valuable company ever at $623 bn

Micro-thruster could move small satellites

Ohioans Love Their Lakes, But Are Concerned For Their Future

Invasive brittle star species hits Atlantic Ocean

Removing Phosphorous From Wastewater

Rating of ocean health shows 'room for improvement'

First Chinese ship makes trip to Atlantic via Arctic route

Predictions are in for Arctic sea ice low point

Melting ice opens Northwest Passage

Tropical climate in the Antarctic

Scores of mastic orchards ravaged by Greek wildfire

China sees red over Europe wine imports

Aquaculture Feeding World's Insatiable Appetite for Seafood

Impulsive micromanagers help plants to adapt, survive

Typhoon kills 17 in Vietnam

Typhoon Kai-Tak kills nine in Vietnam

New storm brings flashfloods, landslides to Philippines

6.3-magnitude quake hits Indonesia's Sulawesi

Kenyan, Ugandan troops battle al-Shabaab

S.Africa police say mine killings were self-defence; 34 dead

Defence ministers meet on DR Congo

South Africa's lion bones: Asia's new delicacy

Research raises doubts about whether modern humans and Neanderthals interbred

Old skull bone rediscovered

A new take on how evolution has shaped modern Europeans

Neolithic Man: The First Lumberjack?

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement