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China's housing prices up 0.24% MoM in Aug

Sep. 3, 2012 (China Knowledge) - China saw its average price of residential properties reach RMB 8,738 per square meter in 100 cities of the country last month, reflecting a MoM growth of 0.24% and having increased for three consecutive months, according to China Real Estate Index System.
The growth rate was lower than the 0.33% increase in July.

In May, 63 of the 100 cities had a sequential price increases, and prices in 37 cites declined from the previous month.

On YoY basis, the 100 cities' average price of residential properties fell 1.60%, reflecting a decline for the fifth consecutive month. However, the drop was smaller than the 1.77% decrease in July.

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