Home price rises bring in fears of fresh curbs
The rapid growth was seen in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, with analysts expecting the growth momentum to continue for the remainder of this year.
Home prices on the mainland continued their rise in May, triggering concern that the government will bring in more measures to cool the red-hot market.
The rapid growth was seen in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, with analysts expecting the growth momentum to continue for the remainder of this year.
New home prices in 65 out of 70 cities tracked by the National Bureau of Statistics showed a rise in May compared with April. Among them, Guilin saw the biggest month-on-month rise, at 2.8 per cent. However, 69 of the 70 cities saw year-on-year increases.
Major cities in general saw a faster pace of growth, with Shenzhen's new home prices rising 1.9 per cent month on month, and 13.7 per cent year on year.
Guangzhou saw the biggest year-on-year growth of 15.3 per cent. Prices rose 1.5 per cent in May against prices in April.
Beijing saw new home prices up 1.3 per cent compared with April, and a jump of 11.8 per cent year on year. The rising momentum was also seen in Shanghai with new home prices up 1.4 per cent month on month, against a 10.2 per cent rise year on year.
