China’s New Home Prices Rose 9.9 Percent

China new home prices hit a fresh record growth rate in November, despite repeated measures by Beijing to cool the red-hot property sector.

Prices of new homes rose 9.9 percent in the month from the year ago period, according to Reuters calculations based on data from the National Bureau of Statistics Wednesday. This compares to an annual rise of 9.6 percent in October.

On a monthly basis, prices climbed 0.5 percent, compared to 0.6 percent in the previous month.

In Shanghai, new home prices rose 18.2 percent from the year-ago period, while prices in Beijing logged a 16.3 percent climb year on year.

via CNBC

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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