Secondary home prices in China's major cities increased in April, particularly in Shanghai and Beijing, offering hopeful signs for stability in the struggling property sector. Analysts suggest this indicates the market may be bottoming out.

Secondary home prices in mainland China’s major cities rose in April, according to official data, offering further encouraging signs that the struggling property sector is bottoming out, analysts said. Used home prices in the first-tier cities rose, led by Shanghai’s 0.7 per cent increase on a monthly basis, followed by a rise of 0.4 per cent in Beijing, data released by the National Bureau of Statistics (NBS) on Monday showed. Prices in Shenzhen also grew by 0.3 per cent, while Guangzhou inched...