Thursday, January 14, 2010

Chinese Property Prices Spike

No wonder the People's Bank of China is starting to put the brake on money printing.

Housing price appreciation accelerated in China in December, climbing 7.8 per cent from the same month a year earlier.

Average prices in 70 large and medium-sized cities across the country rose 1.5 per cent from November, the National Development and Reform Commission said, according to FT.

The increase was the fastest in 18 months. In November, average prices rose 5.7 per cent year-on-year and the rise was 1.2 per cent in October.

1 comment:

  1. Wenzel,

    Meanwhile, China-analyst Shaun Rein says "no bubble here" and notes that Chinese must put 20-50% down depending on which numbered property this is (1st, 2nd, 3rd, etc.)... nevermind that no one is living in these properties, a key speculative indicator.