New home sales in China surge 55.7% month-on-month in March 2023, compared to a growth of 31.9% in the previous month, Invest-Gate reports.

Data from the China Index Academy shows that sales soared higher in high-demand cities, including Beijing and Shanghai, at an average of 73%.

Meanwhile, in March, cities ranked second and third in demand recording 54.7% and 28.6% sales growth, respectively.

Since the Chinese government ended the zero-COVID policy, the real estate sector has been improving.

In a survey of 100 Chinese cities, home prices accelerate at the fastest pace in the nine months that ended in March.