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BEIJING: Property prices in the mainland rose at a slower pace in June from a month ago, government data showed on Monday, in a further sign that Beijing’s efforts to cool the sizzling real estate market were kicking in.
Housing prices in 70 major cities rose 11.4% year-on-year in June, the National Bureau of Statistics said on its website, down from the 12.4% rise seen in the previous month.
The figure hit 12.8% in April, the biggest on-year rise for a single month since July 2005, when the survey was widened to 70 cities from 35.
Real estate investment grew 38.1% in the first six months from a year earlier, the National Bureau of Statistics reported.
The central government had issued a slew of measures in recent months as they seek to prevent the property market overheating and causing a bubble that could derail the world’s third-largest economy.
The authorities have so far tightened restrictions nationwide on advance sales of new developments, introduced curbs on loans for third home purchases and raised minimum down-payments for second homes.
Meanwhile , the Securities Times reported on Monday banks in the mainland’s first-tier cities, including Shanghai and Shenzhen, have all resumed lending to third homes, a sign that the government is relaxing property tightening measures. Banks in cities near Shanghai, such as Nanjing and Hangzhou, have also resumed such mortgage loans, the newspaper said.
The mainland in April banned loans for third homes amid stepped-up efforts against property investment and speculation, triggering a slump in property stocks and stock market.
The report said that banks in Beijing and Shenzhen have started lending to third-home buyers with a down payment ratio of at least 50%. -- South China Morning Post
Housing prices in 70 major cities rose 11.4% year-on-year in June, the National Bureau of Statistics said on its website, down from the 12.4% rise seen in the previous month.
The figure hit 12.8% in April, the biggest on-year rise for a single month since July 2005, when the survey was widened to 70 cities from 35.
Real estate investment grew 38.1% in the first six months from a year earlier, the National Bureau of Statistics reported.
The central government had issued a slew of measures in recent months as they seek to prevent the property market overheating and causing a bubble that could derail the world’s third-largest economy.
The authorities have so far tightened restrictions nationwide on advance sales of new developments, introduced curbs on loans for third home purchases and raised minimum down-payments for second homes.
Meanwhile , the Securities Times reported on Monday banks in the mainland’s first-tier cities, including Shanghai and Shenzhen, have all resumed lending to third homes, a sign that the government is relaxing property tightening measures. Banks in cities near Shanghai, such as Nanjing and Hangzhou, have also resumed such mortgage loans, the newspaper said.
The mainland in April banned loans for third homes amid stepped-up efforts against property investment and speculation, triggering a slump in property stocks and stock market.
The report said that banks in Beijing and Shenzhen have started lending to third-home buyers with a down payment ratio of at least 50%. -- South China Morning Post
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