In January this year, the average prices of residential housing in 100 major cities in China rose by one percent compared to December, rising to RMB 9,812 per square meter, as announced on February 1 by the China Index Academy, a Beijing-based real estate research institute.
This is the eighth successive month-on-month rise in Chinese residential housing since June 2012 when the downtrend in residential real estate prices came to a halt. The rate of increase of prices in January was 0.77 percentage points higher than the growth rate recorded in December. Of the 100 cities surveyed in January, 64 cities saw increases in residential housing prices, 35 cities witnessed declines, while prices remained stable in one city, all on month-on-month basis.