China: Housing market gains further steam in May
House prices in 70 large- and medium-sized cities increased 0.6% in May in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS). The print matched April’s reading.
House prices increased 4.9% annually in May, above April’s 4.8% reading. Annual average growth in house prices was stable at 4.5%.
Looking ahead, the housing market could lose some momentum later this year due to the impact of recent government measures to limit financial risks, including limits on property loans. However, the stronger domestic economy should provide some support.