Nov. 2, 2012 (China Knowledge) - China saw its average price of residential properties reach RMB 8,768 per square meter in 100 cities of the country last month, reflecting a MoM growth of 0.17% and having increased for five consecutive months, according to China Real Estate Index System.
The growth rate in October remained flat from a month earlier.
Last month, 56 of the 100 cities had a sequential price increases, and prices in 42 cites declined from the previous month.
On YoY basis, the 100 cities' average price of residential properties fell 1%, reflecting a decline for the seventh consecutive month. However, the drop was smaller than the 1.4% decrease in September 2012.