Chinese Real Estate Market Sustains Recovery in March, with Home Prices in Top-Tier, 2-Tier and 3-Tier Cities All Rising from February

In March, 64 out of 70 large cities saw month-on-month rise in prices of new homes and second-hand homes, up 9 from February, while 57 out of 70 medium-sized cities saw month-on-month rise in prices of new homes and second-hand homes, up 17 from February, according to data from the National Bureau of Statistics.    

In March, the prices of new commercial housing in first-tier cities rose by 0.3% month-on-month, an increase of 0.1 percentage point from the previous month; the prices of second-hand housing rose by 0.5% from the previous month, and the increase was 0.2 percentage point lower than that of the previous month.

In March, prices of new commercial housing in first-tier cities rose 1.7% YoY, and the rise was the same as that in February.