In May this year, the average prices of new residential housing in 100 major cities in China increased by 0.45 percent month on month to RMB 10,569 ($1,704.7) per square meter, as announced on June 1 by the China Index Academy, a Beijing-based real estate research institute.
The month-on-month decrease in average prices recorded in April this year was 0.15 percent. Of the 100 cities surveyed in May, 48 cities saw increases in residential housing prices, while 52 cities witnessed declines in prices.
On year-on-year basis, in May this year average new residential housing prices in the 100 major cities in China declined by 3.73 percent, with the decrease margin 0.73 percentage points smaller than in April.
Furthermore, the average residential housing price in the 10 biggest cities in China in May this year was RMB 19,148 ($3,088.4) per square meter, up 0.99 percent month on month and decreasing by 2.33 percent year on year.