In January this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged up by 0.1 percent month on month, 0.1 percentage points slower than the rising pace recorded in December last year, while decreasing by 3.4 percent year on year, 0.4 percentage points slower than the declining pace recorded in December, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in January saw a year-on-year decline of 7.6 percent, with the pace of the decline 0.3 percentage points slower compared to that recorded in December. In third-tier cities, second-hand house prices in January saw a year-on-year decrease of 8.2 percent, with the pace of the decrease 0.2 percentage points slower compared to that recorded in December.