In February this year, the average prices of new residential housing in 100 major cities in China decreased by 0.24 percent month on month to RMB 10,539 ($1,719.2) per square meter, as announced by the China Index Academy, a Beijing-based real estate research institute, on March 1. The month-on-month increase in average prices recorded in January this year was 0.21 percent. Of the 100 cities surveyed in February, 39 cities saw increases in residential housing prices, while 61 cities witnessed declines in prices, all on month-on-month basis.
On year-on-year basis, in February this year average new residential housing prices in the 100 major cities in China declined by 0.9 percent, with the decrease margin 2.19 percentage points smaller than in January.
Furthermore, the average residential housing price in the 10 biggest cities in China in February this year was RMB 18,957 ($3,092.5) per square meter, down 0.17 percent month on month and decreasing by 2.45 percent year on year.