Housing cash flows to smaller cities

As policies to restrict house purchases in first-tier cities keep tightening, investment is likely to flow into lower-tier cities, causing price rises, said a business insider.

According to the National Bureau of Statistics, the price of newly built property in first-tier cities generally remained stable in April while secondhand property saw a drop of 0.1 percent from March.

In second-tier cities, the growth rate of new properties increased by 0.1 percent, a figure which doubled in third-tier cities.