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Home prices in China rise in March
According to Reuters calculations based on data from China's National Bureau of Statistics (NBS), average new home prices in 70 major cities climbed at an annual rate of 4.9% in March, after a 3.6% gain in February.
The main contributor was Shenzhen, where home prices jumped by 61.6% year-on-year in March.
On a monthly base, house prices increased in 62 of 70 cities, while prices slid in 8 cities, according to the NBS.
The monthly rise was mainly driven by higher prices in Xiamen, which climbed 5.4% in March.
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