China home prices surge in most cities ahead of further curbs

China home prices surge in most cities ahead of further curbs

Figures from the National Bureau of Statistics released on Tuesday signaled a rise on most Chinese cities in March ahead of further curbs on property purchases.

Prices of new homes increased in 62 out of 70 last month, up from 56 cities in February, where prices dropped in eight cities.

China’s officials have vowed to put strong restrictions on home purchases in large cities to prevent a house bubble, encouraging some buyers to boost their home buying ahead of new restrictions.

In terms of value, new home sales edged up 18 percent to 1 trillion yuan in March from a year ago.

In Guangzhou, home prices advanced 2.5 percent, while prices in Beijing increased 0.4 percent. On the other hand, home prices in Shenzhen and Shanghai dropped 0.3 percent and 0.1 percent respectively.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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