China's home prices continue to rise

Beijing, July 18 (IANS) Prices of both new and existing homes continued to rise in most Chinese cities in June, according to official data released Thursday.

Of a statistical pool of 70 major Chinese cities, 63 cities saw month-on-month home price rises. However, the number was down from 65 cities that reported higher prices in May, the National Bureau of Statistics (NBS) said in a statement on its website.

According to the NBS, 55 cities reported month-on-month price gains in existing homes in June compared to the previous month. The figure also dropped from 64 cities that saw price rises in May, reported Xinhua citing the data.

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