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China's home prices pick up as buyers look to smaller cities

Reuters  |  BEIJING 

By Yawen Chen and Ryan WooBEIJING (Reuters) - China's new home prices rose in April with an increasing number of smaller cities driving broader growth, helped by state measures that allowed buyers to get around existing restrictions and economic development prospects in those centres.New home prices in China's 70 major cities rose 0.5 percent in April from the previous month, up from a 0.4 percent rise in March, Reuters calculated from National Bureau of Statistics (NBS) data published on Wednesday.On an annual basis, home prices increased 4.7 percent in April, slowing from a 4.9 percent gain ...

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First Published: Wed, May 16 2018. 09:46 IST
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