China’s new-home price growth moderated in March as a tighter credit environment and an oversupply of housing in lower-tier cities spurs property developers to slash prices in a bid to attract buyers, The Wall Street Journal reported. Average new-home prices grew 10.04% in March from a year earlier, decelerating for the third straight month. Many potential home buyers are staying on the sidelines anticipating further cuts in property prices. Despite slower economic growth and Chinese people choosing to invest elsewhere, analysts feel a property crash is unlikely, noting that housing demand is still strong in the biggest cities.
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