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The average home sale prices in 70 large- and medium-sized cities rose slightly in June, but the growth rate saw a drop of 1 percentage point over the previous month, showing the housing policies may finally be working.
The central government's policies to contain rocketing housing prices will continue, said the Ministry of Housing and Urban-Rural Development on July 12, responding to recent reports that the tightening policies will be cancelled.
Editor's Note
  • ·Housing prices returned to growth on month-on-month basis since March this year on record lending and the government's favorable policies to stimulate property consumption, including tax breaks and interest rates cuts.
  • ·But as the market recovers, housing prices in some cities are soaring too fast, which deserves "great attention", according to an executive meeting of the State Council, chaired by Premier Wen Jiabao.
  • ·In order to maintain the "stable" and "healthy" development of the real estate market, China is taking various measures.

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