In August this year, the average prices of new residential housing in 100 major cities in China increased by 0.95 percent month on month to RMB 10,787 ($1,685.5) per square meter, as announced on September 1 by the China Index Academy, a Beijing-based real estate research institute. The month-on-month increase in average prices was 0.41 percentage points higher than the increase rate recorded in July.
Of the 100 cities surveyed in August, 51 cities saw increases in residential housing prices, while 49 cities witnessed declines in prices.
On year-on-year basis, in August this year average new residential housing prices in the 100 major cities in China increased by 0.15 percent after 10 consecutive months of decrease on year-on-year basis.
Furthermore, the average residential housing price in the 10 biggest cities in China in August this year was RMB 19,962 ($3,119.1) per square meter, up 1.95 percent month on month and rising by 3.83 percent year on year.