Property Investment Accelerates In October In China

Compared with the same month a year earlier, home prices rose 4.3% in October, easing slightly from Septemberࢀ™s 4.6% growth. Chinese new home prices grew at a slower monthly pace in October, data showed on Monday, as many developers moved to cut prices to promote sales amid tighter government scrutiny on borrowing. Average new home prices in 70 major cities rose 0.2% in October from a month earlier, the slowest monthly growth rate since March and down from Septemberࢀ™s 0.4% growth, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS). Compared with the same…