(CCTV 07-22-2008 15:17)--Residential property prices in 70 major Chinese cities increased 9.2 percent in the second quarter year-on-year. Official data shows the growth rate fell 1.8 percentage points from the first quarter.
Prices of newly-built homes rose over 10 percent in the second quarter, 1.7 percentage points below last quarter's pace. Second-hand home prices grew nearly 9 percent in the same period, down 2.6 percentage points from the first quarter.
Bucking the trend, rental prices in all property categories were up 2 percent year-on-year, a rate of growth that was 0.1 percentage points faster than in the previous quarter. And in terms of land prices, the second quarter saw them rise more than 10 percent year-on-year. And again, growth was slower than in the first quarter.
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Prices of newly-built homes rose over 10 percent in the second quarter, 1.7 percentage points below last quarter's pace. Second-hand home prices grew nearly 9 percent in the same period, down 2.6 percentage points from the first quarter.
Bucking the trend, rental prices in all property categories were up 2 percent year-on-year, a rate of growth that was 0.1 percentage points faster than in the previous quarter. And in terms of land prices, the second quarter saw them rise more than 10 percent year-on-year. And again, growth was slower than in the first quarter.
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