In December 2010 property prices in China made the smallest gain in 13 months, but it was still the 19th straight month of price increase. It has led to fears that the government may impose more cooling measures to limit the risk of a property bubble.
House prices in 70 cities rose 6.4% from a year earlier, less than the 7% estimate expected by some economists. It marked a 0.3% price gain from November.
In a radio broadcast in December, Premier Wen Jiabao said that existing measures to curb property price hikes weren't being implemented well. The slower price gain in December is unlikely to dissuade the government from adding more cooling measures.
Investment in real estate development also rose 12% to $84 billion. Property sales increased by 22% to $155 billion with 2.3 billion square feet sold, up 12% year on year.