More Chinese cities saw home prices rise in July over June, as signs of warming have emerged in China's property market after local governments relaxed property curbs in the wake of weakening economies.
In July, 50 cities—up from 25 in June—out of a statistical pool of 70 major cities, recorded higher new home prices than a month earlier, the National Bureau of Statistics (NBS) said.
Only nine cities saw declines in new home prices in July, down from 21 in June, while prices in 11 cities remained unchanged.
Encouraged by rising transactions in recent months, some developers have started to raise prices or cancel discounts.
"It's still a little early to determine whether this momentum will be sustained," said Mark Budden, China Area Leader at EC Harris, a leading global built asset consultancy. |