China’s real estate market shows no signs of improvement and continues to suffer from further declines. On May 1, the China Index Academy released the latest data. The survey, covering new and second-hand residential markets in 100 cities and rental markets in 50 cities, revealed that in April, the price of new homes in third- and fourth-tier cities dropped by 0.11% month-on-month. As for second-hand homes, while core cities maintained some market activity, “price-for-volume” deals remained the mainstream due to the high number of listings. The average price of second-hand homes across 100 cities was 13,892 yuan per square meter, showing a 0.69% month-on-month decline and a 7.23% year-on-year drop. Meanwhile, rental demand also slowed, with average rent in the 50 cities falling by 0.32% month-on-month and 3.40% year-on-year.
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