BEIJING: Chinese home prices rose faster in November than in the previous month, an independent survey showed on Sunday, adding that authorities are likely to introduce further changes to control the lively real estate market.
The average price of a new home in 100 major cities rose 10.99 percent year-on-year to 10,758 yuan ($1,766) per square metre, said the China Index Academy, which compiled the survey.
That was higher than the rises of 10.69 percent in October, 9.48 percent in September and 8.61 percent in August, said the academy, which is the research unit of the real estate website operator Soufun.
High property prices have generated discontent among ordinary Chinese, and Beijing has sought for more than three years to contain their rise, while also promising to provide affordable housing.
President Xi Jinping called a month ago for improved efforts to increase home supply and for more attention on public housing projects, state media reported at the time.
A document pledging a series of reforms, issued after the Third Plenum meeting of Communist Party leaders in mid-November, hinted that a property tax might be expanded beyond its current two cities of Shanghai and Chongqing but did not give a timetable.
"After the Third Plenum, the central committee (of the ruling Communist Party) will set up and improve long-term mechanisms regarding land, taxation, property registration and other aspects," the academy said.
Earlier measures to try to control prices have included restrictions on buying second and third homes, higher minimum downpayments and taxes in some cities on ownership of multiple homes.
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