Jul. 18, 2012 (China Knowledge) - China's National Bureau of Statistics
) announced today that prices of new residential properties in 25 out of 70 major Chinese cities increased in June, up from only six in May.
All the increases did not exceed 0.6%, said the bureau.
Twenty-four of the 70 Chinese major cities saw nearly unchanged prices of new residential properties last month, and prices in the remaining 21 cities decreased, compared with May.
On Y-o-Y basis, 57 of the 70 Chinese major cities saw price declines in new residential properties in June, and 11 cities saw increases of not more than 1.2%, with six cities recording slower growth.
In China's resale residential property market, 19 of the 70 Chinese major cities suffered MoM price declines in June, while prices of 20 cities were almost unchanged. Thirty-one cities saw prices increases, up from 18 in May.
On an annual basis, 58 of the 70 Chinese major cities had price decreases in resale residential properties in June. Twelve cities had seen growth in prices of not more than 2.6%.