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Property prices climb at growing rate in China's biggest cities

Demand for housing in competitive school districts helping drive up costs

China's biggest cities including Shanghai, pictured, saw a faster increase in prices of new residential houses and second-hand homes in December 2020, official data showed.   © Reuters

China's biggest cities saw a faster increase in prices of new residential houses and secondhand homes in December, official data showed, as analysts said demand for housing in competitive school districts was further heating up the market.

In December, the prices of new homes across China's so-called first tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- grew in aggregate by 0.3% from the previous month, a slightly faster pace than the 0.2% month-on-month increase in November, according to data from the National Bureau of Statistics (NBS). Prices in Shenzhen dipped against the trend.

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