Home prices increased in almost every major Chinese cities in May despite the latest round of fresh property market curbs imposed by the government in March, a report from the National Bureau of Statistics (NBS) showed Tuesday.
Compared to a year earlier, house prices increased in 69 of the 70 cities tracked by NBS in May. The only city which reported a decline was Wenzhou with a 3.6 percent drop in prices year-on-year.
Beijing prices surged 11.8 percent year-on-year in May and prices in Shanghai climbed 10.2 percent. The biggest gain was reported in Guangzhou where prices rose 15.3 percent from May 2012.
On a month-on-month basis, prices increased in 65 cities, declined in three and was flat in two, data showed.
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