Date
24 October 2017

Most Chinese cities miss home-price curb targets, paper says

China’s first-tier cities reported year-on-year increases of more than 20 percent in new-home prices for three consecutive months until November, implying that they have missed out on the price curb targets set by the State Council at the beginning of 2013, China Business News reported Monday, citing data from the National Bureau of Statistics (NBS). Meanwhile, 26 other cities, including the likes of Xiamen, Nanjing, Xian and Wuhan, also missed their targets to rein in home-price growth during the year, as those cities recorded a rise of ten percent or more in housing costs, the report said. The State Council had early last year instructed cities to contain new-home price growth to below the expansion levels in residents’ disposable income, which is normally under ten percent, the paper noted.

– Contact HKEJ at [email protected]

EL/AC/RC

 

EJI Weekly Newsletter

Please click here to unsubscribe