In May this year, average new house prices in 100 major cities in China amounted to RMB 16,396/square meter ($2,309/sq.m.), up 0.25 percent month on month, while rising by 1.33 percent year on year, as announced by CIA, the largest independent property research organization in China.
Meanwhile, in May, the average second-hand house prices in the 100 major Chinese cities amounted to RMB 14,870/square meter ($2,094/sq.m.), down 0.70 percent month on month, 0.05 percentage points slower than the decline recorded in April, while down 5.8 percent year on year, 0.42 percentage points faster than the year-on-year decline recorded in the previous month.