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China's housing boom expands in July


08-18-2016 11:24 BJT

Housing boom in China expanded in July from a year ago. The National Bureau of Statistics said that 58 among the 70 monitored cities had new home prices rise in July, one more compared with the previous month. New home prices in 11 cities dropped from a year ago.

While in one city, it remained unchanged. Prices in Shenzhen were up 41 percent -- the highest among all 70 cities. Xiamen followed with a 39 percent rise, and Hefei with 34 percent. The capital city, Beijing, was up by 21 percent, while Shanghai surged at 27 percent. Jinzhou is the last, down 3.8 percent.

The statistics authority said growth of home prices slowed in first-tier cities but quickened in second- and third-tier cities. 

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