More Chinese cities report rising home prices in March

BEIJING, April 16 (Xinhua) -- Commercial home prices in March rose in more Chinese cities from a month ago as transactions became more vibrant in the real estate market, data from the National Bureau of Statistics (NBS) showed on Wednesday.

An NBS survey covering 70 major cities said the prices of new houses were higher in 24 cities last month, up from 18 in February, while resold homes in 10 cities logged price increases, up by 7.

Home prices in first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, increased last month compared to February, while second and third-tier cities in general registered narrowed price declines, according to the official data.

On a yearly basis, Chinese cities at large continued to see smaller home price drops in March, the NBS said.