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China house prices rise in December but massive rebound unlikely: survey

AFP
January 5, 2013, 12:06 am TWN

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BEIJING -- China's home prices recorded their first year-on-year increase in nine months in December, an independent survey showed Friday, but it said a huge rebound nationally was unlikely.

The cost of a new home in 100 major cities averaged 9,715 yuan (US$1,560) per square meter last month, up a marginal 0.03 percent from December 2011, the China Index Academy (CIA) said.

Prices rose 0.23 percent from November, the seventh consecutive monthly rise, it said in a statement.

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