Chinese house prices bounced back, despite economic slowdown
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Chinese property prices are now bouncing back, amidst central bank’s decision to slash its key interest rates to boost the slowing economy.
In July 2012, the average house price in the 100 Chinese cities surveyed rose by 0.33% to CNY8,717 (US$1,377) per square meter (sq. m.) from the previous month, the second monthly rise after eight consecutive months of declines, based on figures released by China Real Estate Index System (CREIS). On an annual basis, house prices were still down by 1.77% in July 2012.
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