In September this year, the average prices of new residential housing in 100 major cities in China increased by 0.28 percent month on month to RMB 10,817 ($1,703.5) 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 0.67 percentage points lower than the increase rate recorded in August. Of the 100 cities surveyed in September, 59 cities saw increases in residential housing prices, while 41 cities witnessed declines in prices. On year-on-year basis, in September this year average new residential housing prices in the 100 major cities in China increased by 1.36 percent on year-on-year basis.
Furthermore, the average residential housing price in the 10 biggest cities in China in September this year was RMB 20,061 ($3,159.2) per square meter, up 0.50 percent month on month and rising by 5.64 percent year on year.