China's new home prices rose at a slightly faster pace in April, adding to signs that the country's property market is slowly recovering as coronavirus lockdowns are eased and the world's second-largest economy reopens.
BEIJING - China’s new home prices rose at a slightly faster pace in April, adding to signs that the country’s property market is slowly recovering as coronavirus lockdowns are eased and the world’s second-largest economy reopens.
Average new home prices in China’s 70 major cities rose 0.5% in April from the prior month, following a 0.1% increase in March, Reuters calculated based on National Bureau of Statistics data.“Pent-up housing demand is being further released in April as the economy and life continue to get back on track,” an official with the NBS said in a statement along with the data.
Most of the 70 cities surveyed by the NBS reported monthly price increases for new homes, with the number rising sharply to 50 from 38 in March.
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