In May this year, of 70 major Chinese cities surveyed, 43 cities witnessed lower new house prices, with 20 cities seeing higher prices, while new house prices in the remaining seven cities were unchanged, all compared to April, according to data released by
China's National Bureau of Statistics (NBS) on June 18. Based on the NBS data, the biggest month-on-month decrease in new house prices in Chinese cities in May this year was 0.6 percent and the biggest month-on-month increase was 6.7 percent.
On the other hand, on year-on-year basis, in May this year 69 cities saw lower new house prices, with only one seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in May was 10.1 percent, while the biggest year-on-year increase was 7.7 percent.
As regards the second-hand house market in
China, in May 28 cities saw month-on-month decreases in prices, 37 cities saw month-on-month rises in prices, while prices in the remaining five 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 0.9 percent.
On year-on-year basis, in the second-hand house market, in May 67 cities witnessed lower prices, and three cities saw higher prices. The highest year-on-year increase in second-hand house prices in Chinese cities in May was 9.1 percent and the biggest year-on-year decrease was 12.8 percent.