In June this year, the average prices of new residential housing in 100 major cities in China increased by 1.32 percent month on month to RMB 11,816 ($1,779.5) 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 0.38 percentage points lower than the increase rate recorded in May this year. Of the 100 cities surveyed in June, 73 cities saw increases in residential housing prices, 22 cities witnessed declines in prices, while prices in the remaining five cities remained unchanged. On year-on-year basis, in June this year average new residential housing prices in the 100 major cities in China increased by 11.18 percent on year-on-year basis.
Furthermore, the average residential housing price in the 10 biggest cities in China in June this year was RMB 22,450 ($3,381.0) per square meter, up 1.52 percent month on month and rising by 15.98 percent year on year.