China First-Tier Cities See Home Prices Rise 0.2% in May, Second and Third-Tier Cities Fall

According to China's National Bureau of Statistics, first-tier cities saw new residential sales prices rise 0.2% month-on-month in May, with Shanghai, Guangzhou, and Shenzhen each up 0.2%, 0.2%, and 0.4% respectively, while Beijing declined 0.2%.

Second-tier cities fell 0.1% month-on-month with no change from April, while third-tier cities declined 0.4%, widening from the prior month. Among 70 major cities tracked, 16 saw month-on-month price gains, up by 2 from April.