Property prices in China’s top cities rose sharply in March, with Shenzhen in particular reporting a spectacular rise.
Prices of new residential buildings rose 4.9 per cent year-on-year in March, according to a monthly survey of property prices across 70 large and mid-sized cities.
Top tier cities led the gains. In Beijing prices rose 16 per cent year-on-year and in Shanghai they rose 25 per cent. Shenzhen, however, reported the sharpest rise, with average property prices up 61.6 per cent year-on-year according to Reuters calculations based on data from China’s National Bureau of Statistics.
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