The value of homes in China's major cities edged up in June over May,
Reuters reported. The news provider cited figures published by the Chinese Real Estate Index System (CREIS), which revealed prices were up by 0.41 per cent per square metre last month. However, in a year-on-year comparison the hike was 5.2 per cent.
China's government has been attempting to rein in house price inflation
and executive vice-president of CREIS Huang Yu told Reuters that she expects this to continue - and that it could even result in a drop in values in some regions. "The Chinese government will not relax its tight policy and the measures will have an increasing impact on secondary cities later this year," she stated.
Data published by CREIS demonstrated that the rate of increase in residential real estate values has slowed since 2010, particularly in the top ten cities surveyed by the firm. The research organisation is affiliated to Sou Fun - one of China's largest online property companies - and has been compiling reports about the country's housing sector since 1995.
- Tuesday 05 July 2011