In March this year, the average prices of new residential housing in 100 major cities in China decreased by 0.15 percent month on month to RMB 10,523 ($1,694.5) per square meter, as announced by the China Index Academy, a Beijing-based real estate research institute, on April 1.
The month-on-month increase in average prices recorded in February this year was 0.24 percent. Of the 100 cities surveyed in March, 43 cities saw increases in residential housing prices, while 55 cities witnessed declines in prices, with prices in two cities remaining stable, all on month-on-month basis.
On year-on-year basis, in March this year average new residential housing prices in the 100 major cities in China declined by 4.35 percent, with the decrease margin 0.51 percentage points larger than in February.
Furthermore, the average residential housing price in the 10 biggest cities in China in March this year was RMB 18,938 ($3,049.6) per square meter, down 0.1 percent month on month and decreasing by 3.19 percent year on year.