Oct. 18, 2012 (China Knowledge) - China's National Statistic Bureau
has announced prices of new residential properties in 24 out of 70 Chinese major cities decrease in September.
Fifteen of the 70 Chinese major cities saw nearly unchanged prices of new residential properties last month, and prices in the remaining 31 cities increased sequentially with growth not exceeding 0.4%.
On an annual basis, 55 of the 70 Chinese major cities saw price declines in new residential properties in September.
In China's resale residential property market, 18 of the 70 Chinese major cities suffered price declines last month from on a sequential basis, while 17 cities had prices almost unchanged and 35 cities had saw prices increases.
On an annual basis, 56 of the 70 Chinese major cities had price decrease in resale residential properties in September. Only one city saw prices almost unchanged and 13 cities had seen slight growth in prices.