China’s SouFun June New Home Prices Jump on Increasing Sales
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China’s new home prices jumped in June by the most since they reversed declines in December, defying the government’s tightened property curbs as increased sales supported developers’ efforts to avoid price cuts.
Prices surged 7.4 percent last month from a year earlier to 10,258 yuan ($1,671) per square meter (10.76 square feet), SouFun Holdings Ltd., the nation’s biggest real estate website owner, said in a statement after a survey of 100 cities. Last month’s increase was the biggest since December, when prices climbed 0.03 percent, reversing a 0.46 percent fall in November.