The Chinese government’s efforts to take the heat out of the property market appear to be paying dividends, with new data pointing to a slowdown in price gains as a growing number of developers slashed their prices.The price of new homes increased in 55 of 70 cities tracked by the National Bureau of Statistics in August, the lowest number in 18 months. Only 44 cities saw new-home prices increase in February last year.The average cost of a new home rose by 0.58 per cent in August, the smallest…
Source : South China Morning Post
Read more…New home prices rise in just 55 of 70 Chinese cities, the lowest in 18 months, amid Beijing’s efforts to cool the market















