CREIS: New Home Prices Soar 1.7 pc in May

New home prices climbed 1.70 percent in May (up from April's 1.45 percent increase, down from March's 1.90 percent) and are up 10.34 percent year on year. 74 out of 100 cities saw prices rise.

Xiamen topped this list with a 5.85 percent increase in new home prices. Nearly all of the top cities were second-tier or near first-tier cities seeing overflow, such as Langfang near Beijing, up 3.66 percent.

Although the first-tier slowed, prices still increased faster than the national average. The top 10 cities saw prices rise 1.93 percent in May.

One outlier: while existing home prices were also up by similar amounts, Shenzhen's existing homes fell 0.29 percent in May.

CREIS 100 City Survey: 2016年5月百城新建住宅价格指数
Google Translated: 100 Cities Survey

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