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Chinese home price rises 3.9% in Oct

(Xinhua)
Updated: 2009-11-10 14:20

Home prices in 70 large and medium-sized Chinese cities nationwide rose 3.9 percent in October from a year earlier, the National Bureau of Statistics (NBS) announced Tuesday.

The year-on-year price growth rate was 1.1 percentage points higher than that of September, said the NBS.

Related readings:  House price gains not sign of British thaw  Beijing's Wangjing area sees steep house price drop  Greenspan sees house price bottom in 2009  Vow to cut house price in Guangzhou

Combined commercial housing projects investment nationwide hiked by 14.1 percent over past ten months year-on- year to 1.995 trillion yuan ($292.9 billion), according to the NBS.

China's national property climate index, which reflects overall conditions in this sector, increased to 102.03, up 0.95 point from September, the seventh consecutive month that the index seeing month-on-month growth, suggesting a recovery of the sector.

A reading of above 100 is positive, while a figure below that level indicates weak conditions.