Chinese second-tier city prices keep rising in August

In August, China's home prices tacked on at a faster pace, thus suggesting that tightening measures launched by a surging number of cities on overheated markets have yet to display considerable effects.

A robust recovery in sales and home prices, due to a flurry of government stimulus measures, ensured a stronger-than-expected boost to the world's number two economy this year, though eye-popping home price surges in bigger cities have powered fears of overheating.

Average new home prices in 70 major cities edged up 9.2% the previous month from a year ago, accelerating from July's 7.9% ascend, according to Reuters calculations built around on data from the National Statistics Bureau.

The NBS data demonstrated 64 of 70 key cities tracked by the NBS disclosed year-on-year price revenues, up from 51 in July.

In second- and third-tier cities prices are climbing up at an alarmingly steep rate, while speculation was soaring that more cities would get to more stringent controls in order to discourage overeating.

Scroll to top