By Bloomberg News - Oct 21, 2013
Home prices in China’s four major
cities rose the most since January 2011 last month, raising
concerns that a lack of new property curbs is allowing a bubble
to form.
New home prices climbed in 69 of the 70 cities the
government tracked in September from a year earlier, led by 20
percent increases in the southern business hubs of Shenzhen and
Guangzhou, the National Bureau of Statistics said in a statement
today. Prices in Beijing rose 16 percent and advanced 17 percent
in Shanghai, the biggest gains since the government changed its
methodology for the home data in 2011.
Premier Li Keqiang has come up with no additional measures
to rein in property prices since his predecessor Wen Jiabao
stepped up a three-year campaign in March to cool the housing
market, ordering the central bank to raise down-payment
requirements for second mortgages in cities with excessive cost
gains. Some Chinese cities are facing increasing pressure to
meet annual home-price targets they set earlier this year and to
cap gains at the growth rate of local disposable incomes.
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