In December last year, average new house prices in 100 major cities in China amounted to RMB 16,220/square meter ($2,284.5/sq.m.), up 0.1 percent month on month, while rising by 0.27 percent year on year, as announced by CIA, the largest independent property research organization in China.
Meanwhile, in December, the average second-hand house prices in the 100 major Chinese cities amounted to RMB 15,315/square meter ($2,157/sq.m.), down 0.55 percent month on month, 0.01 percentage points slower than the decline recorded in November, while down 3.53 percent year on year, 0.32 percentage points faster than the year-on-year decline recorded in the previous month.
China issued several stimulus policies in late 2023, which exerted a limited positive impact on the real estate sector.
$1 = RMB 7.1002