Home prices still on the rise: report

Prices of new homes continued rising in March, Beijing-based real estate research institute China Index Academy said in a report released Monday.

The average price of new homes in 100 major cities increased by 1.06 percent in March to 9,998 yuan ($1,609.7) per square meter compared with February, the report said. It marked the 10th consecutive monthly increase since June 2012.

The average housing price in the 100 cities also increased by 3.9 percent year-on-year.

Among the 100 cities, 84 saw a month-on-month rise in housing prices and 75 saw year-on-year increases in March.

Beijing, Guangzhou and Shenzhen saw more than 2 percent year-on-year growth in housing prices in March, according to the report.

The academy said that an increasing number of people bought homes out of concerns about higher housing taxes in March following the central government's call for stricter property policies earlier in the month, including a hefty 20 percent capital gains tax on secondhand home sales.

Major cities including Beijing and Shanghai announced and carried out further detailed measures over the weekend.