True believers in Chinese real estate were proven right again in April when home prices rose again, despite the latest round of cooling measures.
According to a report from China Real Estate Index System (CREIS), a consultancy tied to China’s largest online property firm, Soufun Holdings, average home prices in China’s 100 biggest cities rose in April from the previous month, the eleventh straight month-on-month rise.
During April average home prices reached RMB 10,098 (US$1,600) according to the survey an increase of 5.3 percent compared to the same period a year ago.
The April year on year increase was greater than the 3.9 percent increase in March compared to March 2012. However, the 1.0 per cent rate of growth month to month slackened from March’s 1.1 per cent rate. The year on year increase in April marked the fifth consecutive month of year on year increases.
The survey covered 100 cities across China. In Beijing and Shanghai, residential real estate sales prices rose 1.3 per cent in April from March an jumped 7.9 per cent from the same period in 2012, according to the survey.
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