Four Chinese Cities Cautioned Over Surging Home Prices: Xinhua

(Bloomberg) -- China’s housing ministry alerted four cities after noting a surge in their home prices in the past three months, the official Xinhua News Agency reported Saturday.

The Ministry of Housing and Urban-Rural Development urged the local governments in Foshan, Suzhou, Dalian and Nanning to stabilize land and home prices to ensure healthy development of the property market, according to Xinhua. The regulator issued similar alerts to six other cities last month.

Prices of new homes in China rose slightly in April, adding to signs that a housing market rebound is taking hold, according to data from the National Bureau of Statistics released this month.

To contact Bloomberg News staff for this story: Qi Ding in Shanghai at qding15@bloomberg.net

To contact the editors responsible for this story: Shamim Adam at sadam2@bloomberg.net, Magdalene Fung

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