Growth in in House price continues to Slow
Hi,
Growth in China's housing prices continued to slow in the third quarter, due to the government's macro-control measures.
Spokesman Zheng Jingping of the National Bureau of Statistics said yesterday that average housing prices rose 8.8 per cent year-on-year during the first three quarters of this year.
But prices rose 10.1 per cent in the first half and 12.5 per cent in the first quarter of the year.
Growth in real estate investment also dropped to 22.2 per cent in the first three quarters, from 23.5 per cent in the first half.
"The stable price drop combined with the gradual decline in housing investments, is what the government wants to result from its macro-control," Zheng said.
With an aim to curb speculation and gain control over the red-hot housing sector, the government adopted eight measures, such as introducing taxation policies and stricter control over land supply.
Thank you
Albert
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