- Beijing new home prices +14.1% y/y for July (vs. June was +12.9%)
- Shanghai July new home prices +13.7% y/y (vs. June +11.9%)
- The 7.5% y/y rise in July for ‘all China’ is the seventh straight month of year-on-year increases
I don’t know how this fits with China’s China’s National Bureau of Statistics saying property price inflation is low, especially given local governments’ need to keep the property market bubbling so they can continue to sell land at high prices to raise needed revenues.
