In October this year, the average prices of new residential housing in 100 major cities in China decreased by 0.4 percent month on month to RMB 10,629 ($1,731.1) per square meter, indicating a month-on-month decline for the sixth consecutive month, as announced by the China Index Academy, a Beijing-based real estate research institute. The month-on-month decrease in average prices recorded in September this year was 0.92 percent. Of the 100 cities surveyed in October, 27 cities saw increases in residential housing prices, while 73 cities witnessed declines, both on month-on-month basis.
On year-on-year basis, in October this year average new residential housing prices in the 100 major cities in China declined by 0.52 percent, compared to a 1.12 percent rise in the year-on-year growth rate in September this year.
Furthermore, the average residential housing price in the 10 biggest cities in China in October this year was RMB 18,932 ($3,083.4) per square meter, down 0.31 percent month on month and increasing by 2.15 percent year on year.
