In October this year, the average price of new residential housing in 100 major cities in
China increased by 1.65 percent month on month to RMB 12,825 ($1,880.5) 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 1.18 percentage points lower than the increase rate recorded in September this year. Of the 100 cities surveyed in October, 79 cities saw increases in residential housing prices and 21 cities witnessed declines in prices.