Key facts
- Secondhand home prices in China's four largest cities rose 0.4% in May from April.
- This is the third consecutive month of price increases for these cities.
- Shanghai and Shenzhen saw the largest gains, each increasing by 0.6% month-on-month.
- The recovery is linked to demand for property upgrades.
Pre-owned home prices in China’s four largest cities—Beijing, Shanghai, Guangzhou, and Shenzhen—climbed 0.4% in May from April, extending a localized housing recovery for a third consecutive month. The growth pace matched the previous month's increase, according to data released Tuesday by the National Bureau of Statistics. Shanghai and Shenzhen led the gains, with prices in both cities rising 0.6% month-on-month. This sustained rebound is attributed to demand for property upgrades.