Property prices set to grow but at slower pace

Property prices and sales will continue to grow in 2014, but at a slower pace, a report from a real estate research institute China Index Academy said.

Sales of floor space will rise 5.5 to 7.8 percent next year, compared to 73.8 percent in first-tier cities so far this year, according to the report.

"The increase in supply and tighter credit will help to ease price growth to around 7-7.6 percent in 2014, but pressure for big price hike exist in some key cities where land prices are high and supply is seriously limited," said Huang Yu, deputy head of the China Index Academy.

As the growth in property prices further diverges in various cities, real estate policies will also differ. In first-tier cities such as Beijing and Shanghai, and some second tier cities, more tightening policies may be rolled out in 2014, But in some third-tier cities where supply is sufficient, tightening policies may be relaxed to stimulate demand, according to the academy.