China's property market slowed further last month, with average new home prices in the nation's 70 major cities cooling from October as a raft of government curbs appeared to discourage speculative demand.
New home prices rose 0.6 percent month-on-month, slowing from October's 1.1 percent, according to Reuters calculations from data issued by the National Bureau of Statistics (NBS) on Monday
The monthly decline suggested Beijing's efforts to rein in China's overheated property markets is paying off as authorities try to engineer a soft landing amid fears a furious rally of the past two years could trigger a crash.
Reference: Reuters
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