China values fall

Residential values in China fell for the fifth straight month in the country's 70 medium and large cities in April, down 1.1 per cent year-on-year, according to the National Development and Reform Commission...

Comparable data shows that last month's annual price fall is an improvement on the 1.3 per cent recorded in March, and 1.2 per cent in February. But the decline remains greater than the 0.9 per cent recorded in January and 0.4 per cent in December.

New-build homes in China posted the largest annual fall, dropping by an average of 1.7 per cent, which is actually up 0.3 per cent from a month earlier.

The amount of money being invested into China's property sector has also risen. The National Bureau of Statistics reported that £55 billion was invested in property during the first four months of this year, an annual increase of 4.9 per cent.

The greatest demand is for homes situated in Shanghai. The volume of new homes sold in the city last month rose 25 per cent month-on-month, while the annualised surge stood at 97 per cent, according to Shanghai Uwin Real Estate Information Services Co.

A total of 28,600 residential resale units were sold in Shanghai in April, up 11 per cent from March.

Source: www.homesoverseas.co.uk/news