Xiamen Shows China Home-Price Growth Shifts From Top Hubs: ChartBloomberg News
Xiamen, a Chinese port city in Fujian province across the strait from Taiwan, led home-price growth among eastern cities in March as gains in second-tier regions accelerate. New-home prices in the city -- from where a large chunk of the overseas Chinese diaspora originates -- jumped 5.4 percent, outpacing the 3.3 percent average advance in economic powerhouses such as Shanghai and Shenzhen, and the 0.85 percent average increase of the 70 major cities the government monitors. The less economically important regions are benefiting following “the escalation of home-buying tightening in top hubs and part of the demand has flowed to key second-tier cities,” Yan Yuejin, a Shanghai-based researcher at China Real Estate Information Corp., said.
— With assistance by Emma Dong