BEIJING: China's growth in new home prices slowed in July for the first time in five months, with smaller cities especially weighed down by higher ...
BEIJING: China's growth in new home prices slowed in July for the first time in five months, with smaller cities especially weighed down by higher mortgage rates, price caps on resale homes and other steps to cool speculation, a private-sector survey showed on Sunday .
Growth in home sales is expected to remain mild as the curbs are unlikely to be eased, the survey said. But new home prices in the southern tech hub of Shenzhen declined 0.26 per cent, the first drop since February. Local media had warned in May that Shenzhen could be a testing ground for China's plans to impose a nationwide property tax, due to elevated home prices.
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