China Home Prices Recovery Slowed In July: Shenzhen Remained The Bright Spot

In other economic news, data from the National Bureau of Statistics of China showed that home prices in majority of the Chinese cities increased in July.

The NBS data showed home prices across China rose month-on-month in 31 of the 70 major cities monitored, up from 27 in June.

Elsewhere prices in Shanghai rose 3.1%, up from 0.3% in June, while those in Beijing increased 1.0%, the first annual gain recorded since September 2014. Prices dropped in 29 cities but remained flat in 10 cities.

Beijing has stepped up curbs on property market speculation after prices surged in one area of the capital, raising concerns some bigger cities may also tighten home purchase rules. Yes, prices in the southern city are soaring.

“It’s the policy that makes it possible to buy my second apartment”.

Real estate investment rose 4.3 percent year on year to 5.26 trillion yuan (830.9 billion U.S. dollars) in the January to July period, with the growth rate 0.3 percentage points lower than that registered in the first half of this year, according to the NBS.

China’s real estate investment growth continued to slow in the first seven months of 2015, but property sales and housing investment improved, indicating a mixed recovery in the struggling property market.

Year-on-year, new-home prices rose in three cities in July, compared with two in June, the statistics bureau said.

Bank of Communications forecast that the recovery of the housing market will continue this year as liquidity remains ample and expectations of rising prices will further prompt more people to buy.