China's home prices stable on tight regulation

Home prices in major Chinese cities remained stable in October as local governments continued with tight property regulation, data showed Thursday.

New commercial home prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — remain flat compared with a month earlier, the National Bureau of Statistics (NBS) said in a statement on its website.

New and existing home prices in 31 second-tier cities increased at a slower pace from the previous month, while prices of new homes in 35 third-tier cities saw a faster growth rate compared with those in September, the NBS data showed.