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Economy

China's new home prices rise 0.9 pct m/m in Nov

China's massive property market has remained relatively buoyant despite tighter curbs designed to rein in a near-three-year real estate boom.   © Kyodo

BEIJING (Reuters) -- China's new home prices rose 0.9 percent in November from a month earlier, slower than a 1.0 percent increase in the previous month, Reuters calculated from data published on Saturday by the National Bureau of Statistics.

On a yearly basis, average new home prices in China's 70 major cities increased 9.3 percent, accelerating from the 8.6 percent gain in October.

China's massive property market has remained relatively buoyant despite tighter curbs designed to rein in a near-three-year real estate boom that has spread from the country's megacities to the hinterland.

The market is expected to cool further in 2019, with smaller price rises and falling home sales adding to pressure on the world's second-largest economy, a Reuters poll showed this week.

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