Economy

Home prices rise in April

(Agencies)
Updated: 2011-05-03 16:33

China's home prices rose for the eighth consecutive month in April, Bloomberg reported Tuesday, citing Soufun Holdings Ltd.

Related readings:  Higher incomes lead to surging home prices  Beijing to curb new home prices  Home prices in China continued to rise in Feb

The nation's biggest real estate website owner said home prices rose 0.4 percent in April from March and climbed in 77 of 100 tracked cities, the report said.

Credit Suisse analysts still expect more tightening measures and continue to prefer taking profits on China property sector, the report said.

On May 1, Premier Wen Jiabao said the nation is "determined" to bring down housing prices in some cities to a "reasonable" level.

Wen said the government is committed to bringing down some cities' property prices during a visit to a construction site in Beijing, the official Xinhua News Agency reported Sunday.