Here is a list of the day’s latest China real estate news collected from around the web:
- China’s tier-one cities see house prices jump
China’s housing prices continued their upward trajectory driven by a price jump in tier-one cities, official data showed Saturday, making it more pressing for policymakers to cool the property sector.
Among the 70 major cities tracked by the National Bureau of Statistics (NBS), 67 of them saw the prices of new homes rise in April, with the highest month-on-month increase of 2.1 percent being seen in Guangzhou. Beijing, Shanghai and Shenzhen had 1.4, 1.7 and 1.8 percent rise respectively in April compared with March.
Average new home prices rose by 4.9 percent in April from a year ago, after a year-on-year increase of 3.6 percent in March, based on Reuters’ calculations from NBS data released Saturday.
The month-on-month price increase had slowed down in many cities in April from March though, Liu Jianwei, a senior statistician at the NBS, said in a statement.
- Home prices rise more slowly in China
New home prices rose at a slower pace in Chinese cities in April as the government’s recent tightening measures started to take effect, data from the National Bureau of Statistics (NBS) showed on Saturday.
Of a statistical pool of 70 major Chinese cities, 67 saw home prices increase in April from a month earlier, with the highest growth rate at 2.1 percent, down from the 3.2 percent in March.
All the first-tier cities saw their price hikes narrowed. April property prices in Beijing rose 1.8 percent from a month earlier, 0.9 percentage point lower than the pace in March.
- China home prices rise slower in April
New home prices in China’s major cities rose at a slower pace in April as the government’s recent tightening measures started to take effect, data from the National Bureau of Statistics showed on Saturday.
“The trend of surging property prices across the country has been curbed in April as the growth rate in quite a number of cities has slowed down,” said Liu Jianwei, a senior statistician with the bureau.
“However, the fundamental reason for the rising property price hasn’t been addressed yet, and implementation of tightening policies has to be strengthened in the market,” Liu said.
- China’s Stocks Rise to Seven-Week High as Trading Volumes Surge
China’s stocks climbed, sending the benchmark index to the highest level in seven weeks. Brokerages rose as trading volumes jumped the most among Asian markets.
Citic Securities Co and Haitong Securities Co., the nation’s biggest brokerages, climbed more than 1 percent on the prospect increased trading activity and rebounding equities will bolster earnings. Gree Electric Appliances Inc. and SAIC Motor Corp. paced gains for consumer-discretionary companies, jumping at least 1.9 percent. Drugmakers posted the biggest loss among 10 industry groups, led by Yunnan Baiyao Group Co.
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