In February this year, of 70 major Chinese cities surveyed, 66 cities witnessed lower new house prices, with two cities seeing higher prices, while new house prices in the remaining two cities were unchanged, all compared to January, according to data released by China's National Bureau of Statistics (NBS) on March 18. Based on the NBS data, the biggest month-on-month decrease in new house prices in Chinese cities in February this year was 1.3 percent and the biggest month-on-month increase was 0.2 percent.
On the other hand, on year-on-year basis, in February this year 69 cities saw lower new house prices, while one city witnessed unchanged prices. The biggest year-on-year decrease in new house prices in Chinese cities in February was 10.8 percent.
As regards the second-hand house market in China, in February 61 cities saw month-on-month decreases in prices, five cities saw month-on-month rises, while prices in the remaining four cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in February was 0.3 percent, while the biggest month-on-month decrease was 1.2 percent.
On year-on-year basis, in the second-hand house market in February, 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 February was 1.0 percent and the biggest year-on-year decrease was 14.2 percent.