China housing price rises 0.8% m-o-m in November

BEIJING: Residential property prices in China's 100 key cities rose 0.82% in November from a month earlier, according to China Real Estate Index System (CREIS).

Shenzhen stood out as the city with the highest average price, at 24,601 yuan (RM11,627.75) per square meter, followed by Shanghai, Beijing, Hangzhou and Sanya, the private data provider said.

The survey by CREIS, which is affiliated with SouFun Holdings Ltd, China's biggest real estate website operator, serves as a leading indicator of Chinese housing prices. Official data is due next week.

Housing prices in the country's 10 most expensive real estate markets rose an average of 34% in November from a year earlier, it added.

The official measure of the Chinese property market, published by the National Bureau of Statistics, registered a 0.2% price increase in October in month-on-month terms and an 8.6% annual increase. — Reuters
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