Home prices rise

Home prices in first-tier Chinese cities rose again in January on a monthly basis, according to data released by the National Bureau of Statistics (NBS) yesterday.

New and resold home prices in Beijing, Shanghai, Guangzhou, and Shenzhen each rose by 0.1% month-on-month. Among the 70 large and medium-sized cities, 24 recorded monthly increases in new home prices, up from 23 in December, while seven also saw gains in pre-owned home prices, down from nine the previous month. New home prices in second-tier cities increased by 0.1% in January, marking their first rise since June 2023.