In April this year, the total floor area of new houses sold in 40 key Chinese cities decreased by four percent month on month, while rising by one percent year on year, as announced by CRIC, a real estate research institute of E-House, Shanghai-based real estate transaction service provider.
In particular, the floor area of new houses sold decreased by 16 percent month on month and rose by 39 percent year on year in first-tier cities, declined by three percent month on month and by two percent year on year in second-tier cities, while decreasing by one percent month on month and increasing by two percent year on year in third and fourth-tier cities.
Meanwhile, in the January-April period of the year, total floor area of new houses sold in the 40 key cities decreased by two percent year on year, rising by 38 percent in first-tier cities, decreasing by three percent in second-tier cities, while declining by eight percent in third and fourth-tier cities.