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China's home prices rise at fastest pace in nearly a year in May

Reuters  |  BEIJING 

BEIJING (Reuters) - China's home prices in May logged their fastest growth in nearly a year, suggesting buyers are targeting smaller cities even as the government steps up measures to clamp down on speculation.Average new home prices in China's 70 major cities rose 0.7 percent in May from the previous month - the best pace since June 2017 - compared with a 0.5 percent increase in April, according to Reuters calculations based on official data published by the National Bureau of Statistics (NBS) on Friday. Most of the 70 cities surveyed by the Statistics Bureau still reported a monthly rise in ...

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First Published: Fri, June 15 2018. 08:27 IST