Nov. 19, 2012 (China Knowledge) - China's National Statistic Bureau
has announced prices of new residential properties in 17 out of 70 Chinese major cities decrease in October.
Eighteen of the 70 Chinese major cities saw nearly unchanged prices of new residential properties last month, and prices in the remaining 35 cities increased sequentially with growth not exceeding 0.5%.
On an annual basis, 56 of the 70 Chinese major cities saw price declines in new residential properties in October.
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 20 cities had prices almost unchanged and 32 cities had saw prices increases.
On an annual basis, 55 of the 70 Chinese major cities had price decrease in resale residential properties in October and 15 cities had seen slight growth in prices.