The price of new homes in 26 cities in China either stalled or fell in April compared to the month before, the biggest slowdown in more than a year and a half, Bloomberg reported. National housing prices climbed 9.1% in April compared to a year earlier, slowing for a fourth month. Home-price growth moderated both in first-tier and less-affluent cities. Prices in Beijing rose 0.1% from March, while Shanghai prices increased 0.3%. “China’s property market is on a very dangerous brink,” said Xu Gao, chief economist at Everbright Securities. The real estate slowdown has prompted local municipal governments to relax property curbs.
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