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January urban property prices up 9.5% on year
Published on: 2010-02-12
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BEIJING (Dow Jones)--Urban property prices in 70 of China's large and medium-sized cities rose 9.5% in January from a year earlier, accelerating from December's 7.8% rise, the National Development and Reform Commission said Thursday.

Prices in January rose 1.3% from December, down slightly from December's sequential rise of 1.5%, the commission said.

January was the eighth consecutive month in which urban property prices increased from a year earlier. The growing price gains came after the real estate stimulus measures introduced in late 2008 touched off a boom in home buying and property values.

Concerns that home prices in China have grown overly quickly prompted the government to begin tightening mortgage lending and land sales late last year.

Prices of newly built residential properties rose 11.3% in January from a year earlier, accelerating from a 9.1% rise in December, the commission said.

Prices in the secondary market rose 8.0% in January from a year earlier, higher than December's 6.8% rise.

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