In December last year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged up by 0.2 percent month on month, after being stable month on month in November, while decreasing by 3.8 percent year on year, 0.5 percentage points slower than the decline recorded in November, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in December saw a year-on-year decline of 7.9 percent, with the pace of the decline 0.5 percentage points slower compared to that recorded in November. In third-tier cities, second-hand house prices in December saw a year-on-year decrease of 6.2 percent, 0.3 percentage points slower compared to the decrease recorded in November.
