Chinese property prices rose at a slower pace in June as government efforts to prevent a real estate bubble weighed on the market.
Housing prices in 70 big cities rose 0.1 per cent from a month earlier, down from 0.2 per cent in May and the smallest monthly increase this year, according to a population-weighted average of data published by China’s national statistics bureau.
Nationwide property prices rose 4.2 per cent year-on-year, well below June’s 6.4 per cent annual increase in consumer price inflation, another indication that the Chinese housing market has started to come off the boil.
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