In August this year, the average prices of new residential housing in 100 major cities in China increased by 2.17 percent month on month to RMB 12,270 ($1,836.8) per square meter, as announced by the China Index Academy, a Beijing-based real estate research institute. The month-on-month increase in average prices was 0.54 percentage points higher than the increase rate recorded in July this year. Of the 100 cities surveyed in August, 68 cities saw increases in residential housing prices, 29 cities witnessed declines in prices, while prices in the remaining three cities remained unchanged. On year-on-year basis, in August this year average new residential housing prices in the 100 major cities in China increased by 13.75 percent.
Furthermore, the average residential housing price in the 10 biggest cities in China in August this year was RMB 23,568 ($3,528.1) per square meter, up 2.72 percent month on month and rising by 18.06 percent year on year.