In July this year, the average prices of new residential housing in 100 major cities in China increased by 1.63 percent month on month to RMB 12,009 ($1,811.3) 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 0.31 percentage points higher than the increase rate recorded in June this year. Of the 100 cities surveyed in July, 66 cities saw increases in residential housing prices, 30 cities witnessed declines in prices, while prices in the remaining four cities remained unchanged. On year-on-year basis, in July this year average new residential housing prices in the 100 major cities in China increased by 12.39 percent.
Furthermore, the average residential housing price in the 10 biggest cities in China in July this year was RMB 22,945 ($3,460.8) per square meter, up 2.20 percent month on month and rising by 17.19 percent year on year.