China’s first-tier new home prices rise for third month as stabilising steps gain traction

New home prices in China’s first-tier cities rose 0.2% in May, marking a third consecutive monthly increase after nine months of declines. Shanghai and Guangzhou saw 0.2% gains, Shenzhen rose 0.4%, while Beijing fell 0.2%, according to data from the National Bureau of Statistics. Analysts attribute the rebound to stabilization measures boosting market confidence.