Chinese property sector cools further

|By:, SA News Editor

New home prices increased in 44 out of 70 Chinese cities on a monthly basis in March, down from 56 in April and the lowest number since October 2012.

Prices fell in eight cities, double the amount for March.

Of China's largest metropolises, Beijing's costs increased just 0.1%, the slowest pace since September 2012, while in Shanghai prices rose 0.3%.

The property sector had been been fairly torrid until early this year, when government measures to restrict house buying and rein in lending started to have a more notable impact. However, the cooling of the sector comes amid concerns about the slowdown in the broader economy.

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