China new home prices hit a fresh record growth rate in November, despite repeated measures by Beijing to cool the red-hot property sector.
Prices of new homes rose 9.9 percent in the month from the year ago period, according to Reuters calculations based on data from the National Bureau of Statistics Wednesday. This compares to an annual rise of 9.6 percent in October.
On a monthly basis, prices climbed 0.5 percent, compared to 0.6 percent in the previous month.
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In Shanghai, new home prices rose 18.2 percent from the year-ago period, while prices in Beijing logged a 16.3 percent climb year on year.