Housing prices rise in Chinese cities

Beijing, March 18 (IANS) New home prices rose steeply in more Chinese cities in February, putting the government in an increasingly complex situation of regulating the bubble-ridden market, official data showed Monday.

Of a statistical pool of 70 major Chinese cities recorded by the National Bureau of Statistics (NBS), 66 cities saw home prices increase within 3.1 percent in February from a month earlier. In January, 53 cities reported growth margin with no more than 2.2 percent, reported Xinhua.
On a year-on-year basis, 62 cities registered rising prices with growth rate drastically up to 8.2 percent, compared with 4.7 percent recorded in January, NBS said in a statement on its website.