China's home prices slightly up in June

BEIJING - Home prices in 100 Chinese cities saw a slight increase in June, an industrial report showed.

Among the 100 surveyed cities, average new home prices edged up 0.53 percent to 15,461 yuan ($2,189) per square meter in June from May, according to the China Index Academy, a property research institution.

Year-on-year, average new home prices increased 3.16 percent.

A total of 77 cities saw a month-on-month increase in home prices in June, while 23 cities saw home prices decrease.

The China Index Academy's report forecast that the real estate market will continue to recover in the near future, but the impact of the COVID-19 epidemic will pose uncertainties to the market.

China has reiterated the principle that "houses are for living in, not speculation." While curbing housing price speculation, the country will also implement city-specific policies in the sector, according to this year's government work report.