In December last year, the average price of new residential housing in 100 major cities in China increased by 0.74 percent month on month to RMB 10,980 ($1,689.2) 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 0.28 percentage points higher than the increase rate recorded in November. Of the 100 cities surveyed in December, 51 cities saw increases in residential housing prices, while 45 cities witnessed declines in prices. On year-on-year basis, in December average new residential housing prices in the 100 major cities in China increased by 4.15 percent on year-on-year basis.
Furthermore, the average residential housing price in the 10 biggest cities in China in December was RMB 20,624 ($3,172.9) per square meter, up 1.14 percent month on month and rising by 9.25 percent year on year.