China property prices continues to grow

Country:  China

10 July 2009

China property prices rose by 0.2% year-on-year in June, compared with a fall of 0.6% in the 12 months to May, on the back of greater property investment levels, according to the National Development and Reform Commission.

It is the first time that Chinese property prices have posted positive gains since November. On a month-on-month basis, prices appreciated 0.8% in June, compared with a rise of 0.6% in May, the commission announced.

The fact that property prices in China are now in positive territory is further evidence of the improving state of the country’s property sector.

In another sign of growing confidence in China’s property market, the National Bureau of Statistics report that property investment levels into the Chinese market has improved significantly, on the back of favourable mortgage lending conditions, boosting property sales.

See Also:   China, Marc Da-Silva, Overseas property investment news