In May 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 rising by 1.7 percent year on year, 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 2.1 percent, with the declining pace 0.1 percentage point slower compared to that recorded in April this year. In third-tier cities, the year-on-year growth rate of second-hand house prices in May saw a year-on-year decrease of 3.3 percent, with the decreasing pace 0.3 percentage points slower compared to April.
