In June this year, the average price of new residential housing in 100 major cities in China increased by 0.53 percent month on month to RMB 15,461/mt ($2,191/mt), 0.22 percentage points higher than the month-on-month increase rate recorded in May, as announced by the China Index Academy, a Beijing-based real estate research institute.
Meanwhile, the average price of new residential housing in 100 major cities in China increased by 3.16 percent year on year in June, up 0.17 percentage points from the year-on-year increase rate recorded in May.
In June, the average price of new residential housing in ten leading Chinese cities, including Beijing and Shanghai, was recorded at RMB 27,868/mt ($3,949/mt), up 0.71 percent month on month, 0.21 percentage points higher than the increase rate recorded in May, and up 3.35 percent year on year, 0.34 percentage points higher than the increase in June last year.
As many real estate developers have put more new houses for sale in the middle of this year to achieve a good performance for the first half of the year, sales of new residential housing picked up significantly, especially in first-tier cities, indicating rises again following long-term decreases as buyers were more active in purchasing houses in these key cities due to better educational and medical services there.
$1 = RMB 7.0566