New home prices in China’s tier-1 cities rise at faster pace as relief policies, easing of pandemic controls boost market

• Prices of new residential units in the mainland’s four biggest, wealthiest cities increased 0.4 per cent in May, compared to 0.2 per cent in April
• However, the broader market is struggling, with the cost of new homes in 70 cities across the country sliding 0.2 per cent in May