Aug. 20, 2012 (China Knowledge) - China's National Bureau of Statistics (NBS)
announced that prices of new residential properties in 50 out of 70 major Chinese cities increased in July, up from 25 in June and only six in May.
All the increases did not exceed 0.7%, said the bureau.
Eleven of the 70 Chinese major cities saw nearly unchanged prices of new residential properties last month, and prices in the remaining nine cities decreased, compared with June.
On YoY basis, 58 of the 70 Chinese major cities saw price declines in new residential properties in July, and 11 cities saw increases of not more than 1.1%, with five cities recording slower growth.
In China's resale residential property market, 20 of the 70 Chinese major cities suffered MoM price declines in July, while prices of 12 cities were almost unchanged. Thirty-eight cities saw prices increases, up from 31 in June.
On an annual basis, 59 of the 70 Chinese major cities had price decreases in resale residential properties in July. Eleven cities had seen growth in prices of not more than 2.5%.