China Home Sales Value Rose 61% in September From Year Earlier

China Home Sales Value Rose 61% in September From Year Earlier

China Home Sales Value Rose 61% in September From Year Earlier

The value of China’s new home sales rose 61 percent in September from a year earlier, defying policymakers’ moves earlier this year to cool the property market.The value of homes sold rose to 1.2 trillion yuan last month from a year earlier, according to Bloomberg calculations based on data the National Bureau of Statistics released Wednesday. The increase compares with a 33 percent gain the previous month.Residential transactions surged in an extended real-estate bull market, prompting local authorities in late September to roll out tougher curbs in big cities. At least 21 cities have introduced purchase restrictions and toughened mortgage lending since late Sep…

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