China March New Home Price Increases Ease on Tighter Credit
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China’s new-home price increases eased across the country last month amid tighter credit that prompted developers to give discounts.
Home prices from the first-tier cities to those less affluent all weakened in March, according to the National Bureau of Statistics. Prices in the capital city of Beijing rose 10 percent from a year earlier, the slowest since April last year, while those in Shanghai added 13 percent, the smallest since June. The eastern city of Wenzhou fell 3.9 percent from a year ago, according to today’s data.