In May this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities saw a year-on-year decrease of 0.6 percent, with this growth rate 0.4 percentage points lower compared to that recorded in April. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month was 0.3 percentage points higher compared to the April growth rate, as announced by China's National Bureau of Statistics (NBS).
In China’s first-tier cities, prices of second-hand house prices in May saw a year-on-year decrease of 0.2 percent. In second-tier cities, the year-on-year growth rate of second-hand house prices in May was 0.2 percentage points higher compared to the year-on-year growth rate recorded in April.