China's new home prices rise 0.4% m/m in February

BEIJING, March 15 (Reuters) – New home prices in China rose at a faster pace in February, data showed on Monday, as government cooling measures were largely eclipsed by red-hot demand for property in some major cities.

Average new home prices in 70 major cities grew 0.4% in February from a month earlier, quickening slightly from a 0.3% gain in January, according to Reuters calculations based on data released by the National Bureau of Statistics.

On a year-on-year basis, new home prices rose 4.3%, faster than a 3.9% rise in January.

China’s property prices have soared in major cities in recent months, raising concerns about speculative bubbles and prompting a series of regulatory steps to rein in the red-hot market.

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