Chinese home prices continued their bullish trend in April according to the latest data released by the National Bureau of Statistics. Among the 70 cities monitored by the bureau, 65 saw a monthly increase in new home prices, while the remaining 5 saw a drop.
The number of cities where new home prices rose was up by 3 from March. Hefei, the capital of eastern Anhui province, tops the 70 cities with an increase of 5.7 percent, followed by 5.2 percent in Xiamen.
New home prices rose moderately in Beijing by 2.7 percent and in Shanghai by 3.1 percent. Jinzhou in Liaoning province is at the bottom with a negative 0.5 percent growth.
In a separate note, the bureau says the increase slowed in first-tier cities but quickened in second- and third-tier cities.