In May this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities increased by 4.7 percent year on year, while rising by 0.3 percent month on month. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month was 0.5 percentage points lower compared to the April growth rate, as announced by China's National Bureau of Statistics (NBS).
In China’s first-tier cities, prices of second-hand house prices in May saw a year-on-year rise of 0.3 percent, 0.5 percentage points lower compared to the year-on-year growth rate recorded in April. In second-tier cities, the year-on-year growth rate of second-hand house prices in May was 0.2 percentage points lower compared to the year-on-year growth rate recorded in April.