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China's home prices continue to rise in 2015

Xinhua, December 26, 2015 Adjust font size:

China's housing market continued to warm in 2015 following easing measures, according to an industry report.

Home prices in 100 surveyed cities gained 3.39 percent in 2015, according to a report by the China Index Academy, an independent research institute.

Tier-one cities, including Beijing and Shenzhen, recorded a 15.1 percent rise in home prices this year, while tier-two and tier-three cities saw price drops.

The report forecast that property prices will continue on an upward trend next year with an average price hike of 4-7 percent, though some tier-two and most tier-three cities will report price declines.

Destocking will be a major task for 2016 and the inventory pressure will be more severe for tier-two and tier-three cities, said the report. Endi