China House Sales Rebound in October

Chinese property prices increased in 35 of the country’s 70 main cities during October, indicating a small rebound in demand.

Analysts said two interest rate cuts, relaxing lending restrictions and easier access to local government housing funds were behind the gain.

The real estate industry is one of the country’s main economic engines.

However, China wants to avoid sudden price rises, which could shut many ordinary buyers out of the market.

These concerns were eased by the statistical office’s latest figures, which show that property prices were lower in 56 cities in October, compared to the same month last year.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza