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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