Second-Hand Home Sales in Shanghai Hit Decade High in April
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Pre-owned home sales in Shanghai reached a decade high in April, with 28,742 units sold, a 22% increase from last year. This surge is attributed to the later Chinese New Year and improved market expectations. Sales in 20 major Chinese cities rose 13% to around 150,000 units, although average prices fell 8.3% to CNY12,733. Beijing also saw a significant increase, while sales in Shenzhen and Guangzhou showed mixed results. Analysts suggest that while the market is rebounding, it may not indicate a new cycle, but rather moderate growth and stable prices ahead.
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