In October this year, average new house prices in 100 major cities in China stood at RMB 17,316/square meter ($2,577/sq.m.), up 0.18 percent month on month amid the launch of high-quality residential projects in some key cities, and 2.02 percent year on year, according to CIA, the largest independent property research organization in China.
Meanwhile, the average price of second-hand houses in the 100 major Chinese cities stood at RMB 12,376/square meter ($1,842/sq.m.) in October, down 0.61 percent month on month, with the decline widening by 0.01 percentage points compared to September, and down 6.72 percent year on year, with the decline narrowing by 0.22 percentage points compared to the previous month.
In the new residential housing segment, the rise in prices in October was still mainly driven by the introduction of high-priced projects to the market.
The construction sector accounted for 49 percent of China's total steel consumption in 2025, including steel used in both real estate and infrastructure projects.
In October 2026, the second-hand housing market saw a year-on-year recovery in transaction volume, while prices declined both year on year and month on month, with the month-on-month decline widening slightly. The market remained in an adjustment phase characterized by price concessions aimed at boosting transaction volumes, and no signs of price stabilization had yet emerged.
