In March of the current year, average new house prices in 100 major cities in China amounted to RMB 15,916/square meter ($2,427/sq.m.), up 4.07 percent year on year, 0.06 percentage points faster than the year-on-year growth recorded in February this year, while up 0.2 percent month on month, the same as the month-on-month growth recorded in February, as announced by CRIC, a real estate research institute of E-House, a Shanghai-based real estate transaction service provider.
In particular, in March, 76 cities indicated month-on-month rises in new house prices, 23 cities indicated month-on-month declines, while new house prices in one city remained stable compared to February.
Meanwhile, average second-hand house prices in the 100 cities amounted to RMB 15,654/square meter ($2,387/sq.m.), up 3.48 percent year on year, 0.18 percentage points faster than the year-on-year growth recorded in February this year, while up 0.44 percent month on month, 0.16 percentage points slower than the month-on-month growth recorded in February.
China’s central government has repeatedly stressed that housing is for living in instead of for speculation and has issued several policies to curb the overheating of the real estate market, including strict regulation of credit and tight purchase restriction policies, aiming to stabilize average house prices.