In June this year, the average prices of new residential housing in 100 major cities in China increased by 0.56 percent month on month to RMB 10,628 ($1,714.2) per square meter, as announced on July 1 by the China Index Academy, a Beijing-based real estate research institute. The month-on-month increase in average prices was 0.11 percentage points higher than the increase rate recorded in May.
Of the 100 cities surveyed in June, 53 cities saw increases in residential housing prices, while 46 cities witnessed declines in prices and prices in one city remained unchanged. On year-on-year basis, in June this year average new residential housing prices in the 100 major cities in China declined by 2.70 percent, with the decrease margin 1.03 percentage points smaller than the decrease rate in May.
Furthermore, the average residential housing price in the 10 biggest cities in China in June this year was RMB 19,357 ($3,122.1) per square meter, up 1.09 percent month on month and down 0.82 percent year on year.