In January this year, the average prices of new residential housing in 100 major cities in China increased by 0.21 percent month on month to RMB 10,564 ($1,723.3) per square meter, indicating a month-on-month rise after declining for eight consecutive months, as announced by the China Index Academy, a Beijing-based real estate research institute, on February 1. The month-on-month decrease in average prices recorded in December last year was 0.44 percent. Of the 100 cities surveyed in January, 44 cities saw increases in residential housing prices, while 56 cities witnessed declines in prices, all on month-on-month basis.
On year-on-year basis, in January this year average new residential housing prices in the 100 major cities in China declined by 3.09 percent, with the decrease margin 0.4 percentage points larger than in December last year.
Furthermore, the average residential housing price in the 10 biggest cities in China in January this year was RMB 18,990 ($3,097.9) per square meter, up 0.59 percent month on month and decreasing by 1.23 percent year on year.