In May this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities indicated a slight rise of 0.4 percent month on month, 0.2 percentage points faster than the increase recorded in April, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in May saw a year-on-year decline of 1.7 percent, 0.7 percentage points faster than the declining pace recorded in April. In third-tier cities, the year-on-year growth rate of second-hand house prices in May saw a year-on-year decrease of 3.2 percent, 0.7 percentage points faster than the decrease in April.