New homes in 100 cities cost $1,600 per square meter on average in April

Property prices in China's major cities rose for the 11th consecutive month in April, according to a report, but the growth rate slowed down slightly as the government's latest tightening policies gradually kicked in.

Figures released on Thursday by China Index Academy, a Beijing-based real estate research institute, showed the average price of new homes in 100 cities monitored was 10,098 yuan ($1,600) per square meter during April, up 1 percent over the previous month.