Home prices in China rise in January

According to Reuters calculations based on data from China’s National Bureau of Statistics (NBS), average new home prices in 70 major cities climbed at an annual rate of 2.5% in January, after a 1.6% gain in December.

The main contributor was Shenzhen, where home prices jumped by 51.9% year-on-year in January.

On a monthly base, house prices increased in 38 of 70 cities, prices slid in 24 cities, while prices remained unchanged in 8 cities.

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