New housing prices increased in 67 Chinese cities in June, with growth in Beijing and the acceleration for the first time in Shanghai since the government has intensified its efforts this year to slow growth.
A new Beijing house prices rose 2.2 percent last month from a year earlier, against 2.1 percent in May, while they rose in Shanghai 2.2 percent, compared to a , 4 percent growth the previous month, the statistics bureau said on its website today.
China's Cabinet said last week that it will extend the measures to curb home prices in small towns after limiting purchases of homes in metropolitan areas, including Beijing and Shanghai. The government is intensifying restrictions on real estate nationally after posting gains in the first half of developers, sales and home transactions jumped 31 percent last month, even as China has increased payments on certain mortgage loans that years.