In January this year, the average prices of new residential housing in 100 major cities in China rose by 0.63 percent month on month to RMB 10,901 ($1,787) per square meter, as announced by the China Index Academy, a Beijing-based real estate research institute. The increase constituted the 20th consecutive month-on-month rise in new residential housing prices in China. The month-on-month increase rate of average prices recorded in December last year was 0.7 percent. Of the 100 cities surveyed in January, 62 cities saw increases in residential housing prices, while 37 cities witnessed declines, both on month-on-month basis.
On year-on-year basis, in January this year average new residential housing prices in the 100 major cities in China rose by 11.10 percent, with a 0.41 percentage point decrease in the year-on-year growth rate compared to December last year.
Furthermore, the average residential housing price in the 10 biggest cities in China in January this year was RMB 19,226 ($3,152) per square meter, up 1.22 percent month on month and increasing by 17.11 percent year on year.