In July this year, the average prices of new residential housing in 100 major cities in China increased by 0.54 percent month on month to RMB 10,685 ($1,723.4) per square meter, as announced on August 1 by the China Index Academy, a Beijing-based real estate research institute. The month-on-month increase in average prices was 0.02 percentage points lower than the increase rate recorded in June.
Of the 100 cities surveyed in July, 46 cities saw increases in residential housing prices, while 53 cities witnessed declines in prices and prices in one city remained unchanged. On year-on-year basis, in July this year average new residential housing prices in the 100 major cities in China declined by 1.38 percent, with the decrease margin 1.32 percentage points smaller than the decrease rate in June.
Furthermore, the average residential housing price in the 10 biggest cities in China in July this year was RMB 19,580 ($3,158.1) per square meter, up 1.15 percent month on month and rising by 1.30 percent year on year.