BEIJING (Reuters) – China’s new home prices in July rose at the slowest pace since January, official data showed on Monday, after authorities further tightened curbs on the sector, including limits on some purchases.

Average new home prices in 70 major cities grew 0.3% in July from a month earlier, slowing from a 0.5% rise in June, according to Reuters calculations based on data released by the National Bureau of Statistics.

On annual basis, new home prices rose 4.6%, compared with a 4.7% uptick in June.

China’s property market has rebounded quickly from the COVID-19 crisis, triggering concerns about financial risks in an overheated market. This year authorities stepped up curbs on the sector to rein in runaway housing prices.

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