China new home price rises accelerate in November, survey finds ...Middle East

BEIJING: Prices of new homes in China rose at a faster pace in November, a private survey showed on Sunday, as a string of policies may be lending support to the ailing property market.The average price across 100 cities edged up 0.36%, compared with the previous month’s 0.29%, according to data released by property researcher China Index Academy.On a year-on-year basis, the average price rose 2.40% versus 2.08% growth in October.Official data for home prices will be released by China’s statistics bureau on Dec. 16.A prolonged downturn in the property market, which accounted for roughly a quarter of economic activity at its 2021 peak, remains a key drag on the world’s second-largest economy.

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