In January this year, average new house prices in 100 major cities in China amounted to RMB 16,244/square meter ($2,288/sq.m.), up 0.15 percent month on month, while up 0.43 percent year on year, as announced by CIA, the largest independent property research organization in China.
Meanwhile, in January, the average second-hand house prices in the 100 major Chinese cities amounted to RMB 15,230/square meter ($2,145/sq.m.), down 0.56 percent month on month, 0.01 percentage points faster than the decline recorded in December last year, while down 3.96 percent year on year, 0.43 percentage points faster than the year-on-year decline recorded in the previous month.
As of January 31 this year, many regions, especially first-tier cities loosened their restriction policies on real estate purchases, which stimulated some buyers to conclude purchases for housing, exerting a positive impact on new house prices.
$1 = RMB 7.1006