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Home prices to rise in 2013: forecast

(Global Times)

08:40, January 28, 2013

China's home prices are expected to keep rising in 2013, but the growth will be subdued by government control of the property market, a top science academy said over the weekend.

Average home prices across the country are estimated to reach 6,200 yuan ($996.34) per square meter in 2013, up 7.6 percent compared to the previous year, the Center for Forecasting Science under the Chinese Academy of Sciences said Saturday in Beijing while announcing its major forecast for the Chinese economy in 2013.

Average home prices in first- and second-tier cities are predicted to continue rising over the year, but in third- and fourth-tier cities average prices will see a drop, according to the forecast.

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