Housing rebound points to recovery

Property sales in major Chinese cities saw strong rebound in April, a sign that the market was well on the way to recovery, analysts said.

According to data from China Real Estate Index, the country's largest property research institution, 18,533 apartments, with a total floor space of 2,106,069 sq m, were sold in Beijing in April, compared with 15,034 apartments of 1,685,158 sq m floor space in March.

In Shanghai, apartment sales increased by 8 percent in April compared to the previous month.