In May this year, of 70 major Chinese cities surveyed, four cities witnessed lower new house prices, with 60 cities seeing higher prices, all compared to April this year, according to data released by China's National Bureau of Statistics (NBS). Based on the NBS data, the biggest month-on month decrease in new house prices in Chinese cities in May this year was 0.5 percent and the biggest month-on-month increase was 5.5 percent.
On the other hand, on year-on-year basis, in May this year 18 cities saw lower new house prices, with new house prices rising in 50 cities and remaining stable in two cities. The biggest year-on-year decrease in new house prices in Chinese cities in May was 3.2 percent, while the biggest year-on-year increase was 54.0 percent.
As regards the second-hand house market in China, in May this year 13 cities saw month-on-month decreases in prices, 49 cities saw month-on-month rises in prices, while prices in the remaining eight cities remained unchanged.The biggest month-on-month increase in second-hand house prices in Chinese cities in May was 6.3 percent, while the biggest month-on-month decrease was
0.5 percent.
On year-on-year basis, in the second-hand house market in May this year 18 cities witnessed lower prices and 50 cities saw higher prices, while the average price in the two remaining cities was unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in May was 46.8 percent and the biggest year-on-year decrease was 6.5 percent.