In February of the current year, average new house prices in 100 major cities in China amounted to RMB 15,884/square meter ($2,459/sq.m.), up 4.01 percent year on year, 0.45 percentage points faster than the year-on-year growth recorded in January this year, while up 0.2 percent month on month, 0.17 percentage points lower than the month-on-month growth recorded in January, as announced by CRIC, a real estate research institute of E-House, a Shanghai-based real estate transaction service provider.
In particular, in February, 66 cities saw month-on-month rises, 27 cities indicated month-on-month declines, while the remaining seven cities saw stable prices.
In February, average second-hand house prices in the 100 major cities in China amounted to RMB 15,585/square meter ($2,412.5/sq.m.), up 3.3 percent year on year, 0.08 percentage points faster than the year-on-year growth recorded in January this year, while up 0.28 percent month on month, 0.04 percentage points slower than the month-on-month growth recorded in January.
Due to the overheating of the real estate market in the first-tier cities in 2020, Beijing, Shanghai, Guangzhou and Shenzhen issued regulatory policies in February, aiming to curb the overheating of the market, which resulted in month-on-month declines in average house prices in the given month. As for March, the first month following the long Chinese New Year holiday, there will be more supplies to the real estate market and better demand from buyers, which will lead to a stable trend in average new house prices.