China’s Used Home Prices Extend Gains in Major Cities as Upgrade Demand Recovers
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The prices of used homes in China’s major cities rose for the second straight month in April, with their growth rates outpacing those of new home prices, official data showed.
Last month, used home prices in Beijing, Shanghai, Guangzhou and Shenzhen jumped 0.4%, 0.7%, 0.2% and 0.3% month-on-month, respectively, according to data released on Monday by the National Bureau of Statistics (NBS). New home prices diverged in the four cities, falling 0.2% in Beijing but rising 0.4% in Shanghai, 0.1% in Guangzhou and 0.1% in Shenzhen.
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- Used home prices in Beijing, Shanghai, Guangzhou, and Shenzhen rose 0.2%–0.7% month-on-month in April 2025, while new home prices diverged (Beijing fell 0.2%, others rose).
- Price rebound concentrated in midsize/large homes; in Beijing, used homes over 144 sqm rose 0.8% month-on-month.
- Nationwide, only 21 of 70 cities saw new home price increases or stability in April; smaller cities continued to see declines.
- CRIC
- According to the article, CRIC is an industry research firm. Its data showed that used home sales by floor area in 20 major Chinese cities slipped 1% month-on-month in April 2026, but rose 17% from a year earlier.
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