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China’s home prices continue to stabilize on tough controls

Updated: Aug 18,2017 10:53 AM     Xinhua

BEIJING — China’s once red-hot property market continued to show signs of cooling as home prices were faltering or posting slower growth in major cities amid the government’s tough purchase curbs, official data showed on Aug 18.

On a yearly basis, of the 70 cities surveyed in July, the pace of new home price growth slowed in 15 major cities compared with the same month of last year, the National Bureau of Statistics (NBS) said.

On a month-on-month basis, new home prices fell or remained flat in 14 cities in July, up from 10 in June, according to the NBS data.

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