In February this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged down by 0.3 percent month on month, while decreasing by 1.0 percent year on year, 0.5 percentage points higher compared to the change in January this year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in February saw a year-on-year decline of 5.1 percent, with the pace of the decline 0.7 percentage point faster compared to that recorded in January. In third-tier cities, the year-on-year growth rate of second-hand house prices in February saw a year-on-year decrease of 5.1 percent, with the pace of the decrease 0.6 percentage points faster compared to that recorded in January.