China’s home prices continue to stabilize on tough controls

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Photograph artwork copyright © Travel Gazette.
Photograph artwork copyright © Travel Gazette.

China’s once red-hot property market continued to show signs of cooling as home prices faltered or posted slower growth in major cities amid tough purchase restrictions, official data shows.

On a yearly basis, of the 70 cities surveyed in July, the pace of new home price growth slowed in 15 major cities compared with the same month last year, the National Bureau of Statistics (NBS) said.

On a month-on-month basis, new home prices fell or remained flat in 14 cities in July, up from 10 in June, according to the NBS data.

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