Home prices continue to rise in China

Home prices continued to rise across China’s largest cities in April despite aggressive efforts by the government to curb the market, The Wall Street Journal reported. Average new home prices rose 5.34% year-on-year in April, the fastest rise since late 2011, according to a survey of real estate firms conducted by data firm China Real Estate Index System. Prices rose in 76 cities and fell in 24 others. Compared to March, prices rose 1% to US$1,638 (RMB10,098) per square meter. “This confirms (our) view that the recent government control measures will not prevent housing prices from rising,” Credit Suisse analyst Jinsong Du said.