In February this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities remained stable month on month, compared to the decline of 0.3 percent seen in January, while decreasing by 2.2 percent year on year, 0.1 percentage point faster compared to the year-on-year decrease in January this year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in February saw a year-on-year decline of 6.2 percent, with the pace of the decline remaining unchanged compared to that recorded in January, while down 0.4 percent month on month. In third-tier cities, second-hand house prices in February saw a year-on-year decrease of 6.3 percent, with the pace of the decline 0.2 percentage point faster compared to that recorded in January, while down 0.5 percent month on month.
