In February this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged up by 0.1 percent month on month, while decreasing by 3.0 percent year on year, down 0.4 percentage points compared to the change 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 7.4 percent, with the pace of the decline 0.2 percentage points slower compared to that recorded in January. In third-tier cities, the year-on-year growth rate of second-hand house prices in February saw a year-on-year decrease of 8.0 percent, with the pace of the decrease 0.2 percentage points slower compared to that recorded in January.