The NBS data showed 50 of the 70 major cities it tracks saw year-on-year price gains, up from 46 in April.//Shenzhen remains the best performer, surging 53.2 percent from a year earlier. Sharp price rises are now spreading to lower tier cities . The coastal city of Xiamen surpassed top-tier city Shanghai with the second highest price rise of 28 percent. Prices in second-tier cities Nanjing and Hefei also rose over 20 percent, more than the 19.5 percent seen in Beijing.
Home prices rise faster in May
China's home prices rose faster in May led by sharp gains in second- and third-tier cities. Average new home prices in 70 major cities climbed 6.9 percent last month from a year ago, accelerating from April's 6.2
China's home prices rose faster in May led by sharp gains in second- and third-tier cities. Average new home prices in 70 major cities climbed 6.9 percent last month from a year ago, accelerating from April's 6.2 percent rise.
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