China Housing Cools Down in January

February 24, 2014 Share Print 0

China home prices have suggested a potential cooling-off in the housing sector at the start of this year.

Average new home prices in China’s 70 major cities rose 9.6% in January from one year ago, easing from December’s 9.9% increase.

This is the first slowdown in the rate of price increases in 14 months, since November 2012.

Home prices in top-tier cities Beijing and Shanghai also rose in January, but at a slower rate from December.

Property purchases remain a popular investment choice in China, and that kept prices rising in 2013.

But the momentum slowed down late last year, after the People’s Bank of China, the central bank, progressively tightened monetary conditions to rein in excessive lending growth.

via BBC

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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.