Property market records 'Indian summer' in April

Property prices in China remained resilient in April as easier credit, purchase policies and steps by several cities to attract talent with friendly housing policies spurred demand for new homes.

According to the National Bureau of Statistics, 67 out of the 70 major Chinese cities saw an increase in the number of newly built homes that were sold in April. Beijing, Shanghai, Guangzhou and Shenzhen, the four first-tier cities, saw growth of 0.5 percent, 0.3 percent, 1.1 percent and 0.4 percent respectively in new home sales on a monthly basis.

Prices for pre-owned property in 55 out of the 70 cities saw an improvement from the levels in March. Among the top cities, only Guangzhou saw a 0.4 percent dip in pre-owned property sales.