In March this year, of 70 major Chinese cities surveyed, 50 cities witnessed lower new house prices, with 12 cities seeing higher prices, while new house prices in the remaining eight cities were unchanged, all compared to February, according to data released by China's National Bureau of Statistics (NBS) on April 18. Based on the NBS data, the biggest month-on-month decrease in new house prices in Chinese cities in March this year was 0.9 percent and the biggest month-on-month increase was 0.7 percent.
On the other hand, on year-on-year basis, in March this year all 70 cities saw lower new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in March was 11.2 percent.
As regards the second-hand house market in China, in March 48 cities saw month-on-month decreases in prices, 12 cities saw month-on-month rises in prices, while prices in the remaining 10 cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in March was 0.9 percent, while the biggest month-on-month decrease was 0.7 percent.
On year-on-year basis, in the second-hand house market in March, 69 cities witnessed lower prices, and one city saw higher prices. The highest year-on-year increase in second-hand house prices in Chinese cities in March was 0.4 percent and the biggest year-on-year decrease was 13.5 percent.