China’s home prices on sharp rise in April

Buyer euphoria is persisting, with investors using real estate as a hedge against global inflation.

SHANGHAI: China’s home prices grew at the fastest pace in eight months in April after curbs failed to stem buyer enthusiasm.

New home prices in 70 cities, excluding state-subsidised housing, rose 0.48% last month from March, when they gained 0.41%, National Bureau of Statistics figures showed yesterday. Values in the secondary market, which faces less government intervention, climbed 0.4%, the same pace as a month earlier.