In May this year, of 70 major Chinese cities surveyed, 29 cities saw slower year-on-year growth in new house prices. In China’s first-tier cities and second-tier cities, the year-on-year growth rates of new house prices in the given month were respectively 2.2 percentage points and 0.8 percentage points lower compared to those recorded in April this year, as announced by China's National Bureau of Statistics (NBS).
As for the second-hand house market, of the 70 major Chinese cities surveyed, 18 cities saw slower year-on-year growth compared to the growth observed in April. In China’s first-tier cities and second-tier cities, the year-on-year growth rates of second-hand house prices in May were respectively 1.7 percentage points and 0.5 percentage points lower compared to those recorded in April this year.