May. 18, 2012 (China Knowledge) - China's National Bureau of Statistics
announced today that prices of new residential properties in 43 out of 70 Chinese major cities dropped in April.
Twenty-four of the 70 Chinese major cities saw nearly unchanged prices of new residential properties last month, and prices in the remaining three cities increased sequentially with growth not exceeding 0.2%.
On Y-o-Y basis, 46 of the 70 Chinese major cities saw price declines in new residential properties in April, eight more than in March, and 23 cities recorded increases of not more than 1.7%.
In China's resale residential property market, 33 of the 70 Chinese major cities suffered M-o-M price declines in April, while 28 cities had prices almost unchanged and 9 cities had saw prices increases.
On an annual basis, 56 of the 70 Chinese major cities had price decreases in resale residential properties in April, seven more than in March. Only two cities saw prices almost unchanged and 12 cities had seen growth in prices of not more than 3.2%.