Residential realty builds on incipient recovery
(WorldNews Politics)

Although hurt by the early stage of the COVID-19 outbreak, China`s real estate industry led by the residential sector is recovering rapidly, especially in first-tier cities, official data showed. The National Bureau of Statistics said home sales rose 9.7 percent year-on-year in May, reaching 147 million square meters nationwide. In terms of home price changes, 57 out of the 70 major cities monitored by the NBS reported their new home prices rose. In April, 50 cities reported higher home prices. In the pre-owned home market, 41 cities registered home price rises in May, up from 37 in April. New home prices in China`s four first-tier cities rose 0.7 percent in May from April on average....