Property prices in China rose 5.3% in February from the same month last year, slowing from January's 5.6% rise. The slower increase in the National Development and Reform Commission's property price index came as Beijing seeks to cool and stabilize the property sector as part of broader macroeconomic controls.

Year-to-year price rises in the new and secondary housing sectors slowed last month compared with January's increases. The price of new housing in February rose 5.9% nationwide from the same month last year, while prices in the secondary market rose 4.4%.

In January, the price of new housing rose 6.1%, while secondary-market prices rose 5.3%, according to the commission's data. New housing prices in Shanghai were mostly unchanged in February from the same month last year.

Shenzhen, Beijing, Guangzhou and Fuzhou were among the cities with the highest price increases for new residential units, each posting gains of more than 9% last month. Prices in China's luxury residential sector rose 6.7% in February, while prices in the low-end sector rose 2.6%.

Source:佚名