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China's new home price rise slowed to 11-month low in April
房價下跌至11個月最低值 跌價是否繼續
China's home prices rose more slowly in April, with more cities experiencing price drops and weaker sales.
Official data shows that average new home prices in 70 major cities rose 6.7 percent in April from a year earlier, down 1 percentage point from the figure in March. Big cities like Beijing and Shanghai also saw a cooling in the market.
The weaker sales led to an increased inventory of unsold homes. In the first four months, sales of residential houses fell 8.6 percent compared with the same period last year.
In April alone, the inventory of unsold housing increased by more than 2 million square meters, or 20,000 apartments.
