China's home prices edge up in March

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Home prices in 70 major Chinese cities went up in March, official data showed Tuesday.

The National Bureau of Statistics said in a statement that new house prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — increased 0.2 percent month-on-month in March, down from the 0.3 percent increase in February.

New home prices climbed 0.6 percent in 31 second-tier cities, and rose 0.7 percent in 35 third-tier cities.

As new house prices rose slightly, prices of resold houses showed signs of a rebound.

Prices for resold homes in four first-tier cities reported an average of 0.3-percent growth month on month, while that in 31 second-tier cities rose 1.2 percent, against the 0.2-percent drop from February.

10 cities out of 70 reported month-on-month drops of resold house prices in March, down from 14 registered in February.

NBS senior statistician Liu Jianwei said local governments kept differentiated real estate policies in March, so as to maintain stable development of the property market with continuity of policies.

Source(s): Xinhua News Agency