Home prices decline in April

China Daily (Canada) - - CHINESE TRAIN PROJECTS AROUND THE WORLD -

China’s real es­tate mar­ket re­mained largely ane­mic in April, but a slight price re­cov­ery in top-tier cities of­fered a sign of im­prove­ment in a sec­tor deemed cru­cial to the econ­omy.

Of 70 large and medi­um­sized cities sur­veyed, 48 saw new home prices dip in April from the pre­vi­ous month, down from 50 in March, ac­cord­ing to data from the Na­tional Bureau of Statis­tics.

Year- on- year, 69 cities re­ported new home price de­clines. For ex­ist­ing homes, 34 cities saw price de­clines in April on a monthly ba­sis, eight re­ported flat prices, while 28 cities posted gains.

China’s prop­erty mar­ket took a down­turn in 2014 due to weak de­mand and a sur­plus of un­sold homes. The cool­ing has con­tin­ued into 2015, with both sales and prices fall­ing and in­vest­ment slow­ing. (Photo 1)

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