In November this year, the average price of new residential housing in 100 major cities in
China increased by 0.88 percent month on month to RMB 12,938 ($1,875.1) 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 0.77 percentage points lower than the increase rate recorded in October this year.