Xiamen defies house price trend in August

Only one of the 70 major cities in China saw a decline in its housing price month-on-month in August, according to the National Bureau of Statistics, with experts predicting that the authorities would introduce further curbs to rein in price rises.

The price of newly built commercial property in Xiamen dropped by an average of 0.1 percent compared to July, while the market in Beijing remained stable with the average price unchanged from the previous month.

According to the NBS, the average price of new property rose in Shanghai by 0.1 percent and increased by 0.9 percent in Guangzhou in August.