Chinese property prices rose strongly in September, fuelling concerns that the housing market is overheating.
Property prices rose 9.1 per cent year on year in China’s 70 main cities, up from August’s 8.3 per cent increase, according to data from the national statistics bureau. It was the strongest annual rise since the bureau introduced another way to monitor prices three years ago.
Price gains in China’s biggest cities were especially steep. In Beijing values for new homes rose 20.6 per cent from a year earlier. In Shanghai they were up 20.4 per cent, while in Shenzhen they increased 20.1 per cent.
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