Property prices 'will continue to increase'

BEIJING - Property prices are unlikely to fall this year and are expected to rise, at least in the short term, despite tightening monetary policies and the expected availability of more affordable housing, a report said on Tuesday.

"In the short term, prices are expected to continue to rise because of high inflation expectations," Ren Rongrong, a property analyst at the China Real Estate Chamber of Commerce, who participated in compiling the report, told a news conference.

She added that developers have no incentive to cut prices as they still have sufficient funding and feel no urgent need to cash in.