In September this year, the average prices of new residential housing in 100 major cities in China increased by 2.83 percent month on month to RMB 12,617 ($1,883.1) per square meter, as announced by the China Index Academy, a Beijing-based real estate research institute. The month-on-month increase in average prices was 0.66 percentage points higher than the increase rate recorded in August this year. Of the 100 cities surveyed in September, 81 cities saw increases in residential housing prices, 18 cities witnessed declines in prices, while prices in the remaining one city remained unchanged. On year-on-year basis, in September this year average new residential housing prices in the 100 major cities in China increased by 16.64 percent.
Furthermore, the average residential housing price in the 10 biggest cities in China in September this year was RMB 24,372 ($3,637.6) per square meter, up 3.41 percent month on month and rising by 21.49 percent year on year.