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No signs of home price rebound
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SHANGHAI’S pre-owned housing index climbed again last month but it didn’t necessarily suggest a price rebound, Shanghai Existing House Index Office said in a latest report.
The index, which monitors month-on-month price changes in 130 areas around the city, added 0.42 percent in May, up 0.25 percentage points from a month earlier.
“The insignificant increase in the monthly index was mainly due to a structural shift with more vibrant sales of existing houses in central areas than in outlying districts,” the office said.
It, however, does not expect “any clear signs for a major price recovery.”
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