China property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

New residential buildings at the Zhongtian Future Ark, a huge residential area being developed in Guiyang, Guizhou province. New home prices in the city registered the highest increase in October. Photo: Simon Song

China’s new home prices rise 1 per cent in October

China’s new home prices continued to rise in October despite government measures to rein in prices, with analysts fearing the price curbs will remain firmly in place for the foreseeable future.