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Investment surge puts froth back in China's largest housing markets

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Housing in Harbin, China   © Reuters

BEIJING -- Housing prices in the biggest Chinese cities are soaring once again even as other regions languish, fueled by concentrated investment in areas seen as safe bets.

     Prices on new housing in February rose above January levels in 47 of the country's 70 largest cities, the National Bureau of Statistics said Friday. Thirty-two cities logged year-on-year growth. But prices in 37 cities dropped below February 2015 levels. "Housing prices are extremely polarized," as People's Bank of China Gov. Zhou Xiaochuan said March 12.

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