In April this year, the average prices of new residential housing in 100 major cities in China increased by 1.45 percent month on month to RMB 11,467 ($1,772.3) 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 0.45 percentage points lower than the increase rate recorded in March this year. Of the 100 cities surveyed in April, 71 cities saw increases in residential housing prices, while 25 cities witnessed declines in prices. On year-on-year basis, in April this year average new residential housing prices in the 100 major cities in China increased by 8.98 percent on year-on-year basis.
Furthermore, the average residential housing price in the 10 biggest cities in China in April this year was RMB 21,695 ($3,353.2) per square meter, up 1.53 percent month on month and rising by 14.42 percent year on year.