Chinese New Home Price Rose Again In April, But Restrictions Working
New home prices climbed 0.7 percent in April, matching March’s increase. A smaller number of cities saw rising prices.
Restrictions are working though. I watch 12 cities, the four first-tier cities and eight “hot” cities. These 12 combined for an average price increase of 0.08 percent. I don’t include Sanya in the list, and it saw the largest drop, 1.2 percent on the month. Many third-tier cities saw gains of 1 percent or more. The highest was 2.2 percent in Bengbu, Anhui.
Existing home prices also climbed 0.7 percent. In those 12 cities, the average increase was 0.4 percent. The highest increase was in Changsha, up 4.3 percent.