In May of the current year, average new sprices in 100 major cities in China amounted to RMB 16,180/square meter ($2,281/sq.m.), down 0.01 percent month on month, while down 0.11 percent year on year, as announced by CIA, the largest independent property research organization in China.
Meanwhile, in May, the average second-hand house prices in the 100 cities in question amounted to RMB 15,786/square meter ($2,225/sq.m.), down 0.25 percent month on month, 0.11 percentage points faster than the decline recorded in April, while down 1.52 percent year on year, 0.24 percentage points faster than the year-on-year decrease recorded in the previous month.
$1 = RMB 7.0939