Astonishing figures out of China real estate:

Shenzen is an extreme example:

  • +4% in January m/m
  • +52% in January y/y

Shanghai and Beijing both up also, but in smaller cities there have been some declines

"Property prices continued to soar in cities like Shenzhen and Shanghai for the past month, driven by the sharp surge of credit expansion, which appears to be endorsed by the central bank and local governments as a way to reinvigorate sales and digest inventory in third- and fourth-tier cities," analysts at HSBC Holdings Plc wrote in a March 1 report.

Bloomberg has more