In March this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities rose by 0.4 percent month on month, 0.1 percentage point slower than the growth recorded in February this year, as announced by China's National Bureau of Statistics (NBS).
Meanwhile, in second-tier cities the month-on-month growth rate of new house prices in the given month was 0.5 percent, 0.1 percentage point faster than that recorded in February, while in third-tier cities the month-on-month growth rate of new house prices in March was 0.3 percent, maintaining the same growth rate compared to that recorded in February.
In China’s second-tier cities, prices of second-hand houses in March saw a year-on-year rise of 3.3 percent, 0.4 percentage points higher compared to the increase recorded in February. In third-tier cities, the year-on-year growth rate of second-hand house prices in March was 2.3 percent, 0.4 percentage points higher compared to the year-on-year growth rate in February.