Average residential housing price in China increases during May

Wednesday, 05 June 2019 10:19:57 (GMT+3)   |   Shanghai

In May this year, the average price of new residential housing in 100 major cities in China increased by 0.24 percent month on month to RMB 14,836 ($2,150.1) per square meter, as announced by the China Index Academy, a Beijing-based real estate research institute. The month-on-month increase in average prices was 0.04 percentage points lower than the increase rate recorded in April this year.

In May, the demand for residential housing has still been firm, with transaction activities hitting record new high in 2019. However, the transaction activities in residential housing market for the second and third-tier cities have been slacker, even including hot cities like Wuxi of Jiangsu Province, Xuzhou of Jiangsu Province and Hefei of Anhui Province.

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