China’s home prices rise to 2-year high in March
Data released by the National Statistics Bureau (NBS) showed that average new home prices in 70 major cities rose 4.9% on the year in March compared with a 3.6% gain in February. On a monthly basis, meanwhile, home prices climbed 1.1%. Data also showed that home prices in 40 of 70 major cities posted yearly increases compared with 32 cities in February.
Meanwhile, new home prices surged 61.6% on the year in Shenzhen and 25% on the year in Shanghai in March, up 3.7% and 3.6%, respectively from February.
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