China Home Prices Jump as Guangzhou, Shenzhen Lead Advances
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New home prices in China’s four major cities rose the most since January 2011, raising concerns of a bubble as home buyers were emboldened by a lack of new nationwide property curbs.
New home prices in October jumped 21 percent from a year earlier in the southern city of Guangzhou and 20 percent in nearby Shenzhen, 18 percent in Shanghai and 16 percent in Beijing, the National Bureau of Statistics said in a statement today. Prices rose in 69 of the 70 cities tracked by the government.