Rising secondary home prices in China’s major cities in April stoke hopes of stability

Secondary home prices in mainland China’s major cities rose in April, according to official data, offering further encouraging signs that the struggling property sector is bottoming out, analysts said. Used home prices in the first-tier cities rose, led by Shanghai’s 0.7 per cent increase on a monthly basis, followed by a rise of 0.4 per cent in Beijing, data released by the National Bureau of Statistics (NBS) on Monday showed. Prices in Shenzhen also grew by 0.3 per cent, while Guangzhou inc...

By Cheryl Arcibal