In May this year, average new house prices in 100 major cities in China amounted to RMB 16,815/square meter ($2,335/sq.m.), up 0.3 percent month on month, while rising by 2.56 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 major Chinese cities amounted to RMB 13,794/square meter ($1,916/sq.m.), down 0.71 percent month on month, 0.02 percentage points faster than the decline recorded in April this year, while down 7.24 percent year on year, 0.01 percentage point slower than the year-on-year decline recorded in the previous month.
