Housing prices in 70 mainland cities continued to grow last month, showing tighter restrictions on second-home mortgages had yet to make an impact on the property market.
Home prices rose 0.7% in October following a 0.7% gain in September, according to data from the National Bureau of Statistics.
October home prices were 3.9% higher than a year earlier and the growth rate beat the year-on-year increase of 2.8% in September.
Lee Hing-yin, a director of research and advisory at Colliers International's East China division, said the data showed property prices were still on an upward trend despite the banks being requested to tighten lending for second homes in the middle of this year.
South China Morning Post