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China Property Curbs Start to Bite as Prices Ease in Some Cities

  • Prices dropped in early October after red-hot September
  • Authorities in 21 cities have imposed curbs to cool prices
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China's Home Prices Rise in Fewer Cities Amid Curbs

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China’s overheated property market is showing tentative signs of cooling, with home prices in some of the hottest cities falling this month as authorities stepped up curbs to avert a potentially ruinous housing bubble. 

New-home prices in Beijing fell 3.7 percent in the first weeks of October from September and dropped 2.5 percent in Shanghai, the National Bureau of Statistics said Friday, adding the market “apparently cooled” in response to targeted measures rolled out in some cities. Still, average new-home prices in 70 cities tracked surged the most in more than seven years in September, climbing 1.8 percent from August, according to Bloomberg calculations based on the data.