In March this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities saw a year-on-year decrease of 0.6 percent, with this growth rate 0.5 percentage points lower compared to that recorded in February. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month was 0.2 percentage points lower compared to the February growth rate, as announced by China's National Bureau of Statistics (NBS).
In China’s first-tier cities, house prices of second-hand house prices in March saw a year-on-year decrease of 0.1 percent. In second-tier cities, the year-on-year growth rate of second-hand house prices in March was 0.4 percentage points lower compared to the year-on-year growth rate recorded in February.