In March this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged down by 0.1 percent month on month, down 0.2 percentage points compared to the decline in February, while decreasing by 1.5 percent year on year, 0.5 percentage points higher compared to the decrease in February this year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in March saw a year-on-year decline of 5.9 percent, with the pace of the decline 0.8 percentage point higher compared to that recorded in February. In third-tier cities, the year-on-year growth rate of second-hand house prices in March saw a year-on-year decrease of 5.7 percent, with the pace of the decrease 0.6 percentage points higher compared to that recorded in February.