Chinese new home prices kept rising in April. The average price across 36 medium and large cities increased 3.6% vs. March, which is a 53% annualized rate.
Prices are still soaring.
By housing type, the average transaction prices of affordable homes, commercial residential properties and high-end commercial residential properties increased by 0.09 per cent, 4.3 per cent and 2.82 per cent respectively month-on-month.
Despite reports of transaction softness in trophy cities like Beijing and Shanghai, these April price rises appear far from ‘cooled down.’