In January this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities declined by 0.3 percent month on month, unchanged from the decline seen in December last year, while decreasing by 2.1 percent year on year, 0.4 percentage points faster compared to the decrease in December last year, 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 6.2 percent, with the pace of the decline 0.2 percentage points faster compared to that recorded in December last year. In third-tier cities, second-hand house prices in January saw a year-on-year decrease of 6.1 percent, with the pace of the decline 0.1 percentage point faster compared to that recorded in December.