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China's March home prices defy curbs, further tightening expected

Reuters  |  BEIJING 

By Yawen Chen and Elias GlennBEIJING (Reuters) - Prices in China's sizzling property market, a major driver of growth in the world's second largest economy, accelerated in March on a monthly basis, shaking off the impact of recent cooling measures introduced to dampen speculative demand.Average new home prices in China's 70 major cities rose 0.6 percent in March from February, higher than the previous month's reading of 0.3 percent, according to Reuters calculations based on an official survey on Tuesday.The National Bureau of statistics, which published the report, said on Tuesday while ...

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First Published: Tue, April 18 2017. 11:25 IST