China’s home prices increased in fewer cities last month in the wake of cooling measures imposed by local authorities.
New-home prices, excluding government-subsidized housing, gained from the previous month in 56 of 70 cities tracked by the government, compared with 58 in April, the National Bureau of Statistics said on Monday. Prices fell in nine cities and were unchanged in five.
In Beijing, the scene of the nation’s tightest property restrictions, prices of new homes were unchanged from the previous month, and prices of existing homes fell by 0.9 per cent, the first decline since February 2015.
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