Dec. 4, 2012 (China Knowledge) - China
saw its average price of residential properties reach RMB 8,791 per square meter in 100 cities of the country last month, reflecting a MoM growth of 0.26% and having increased for six consecutive months, according to China Real Estate Index System.
The growth rate in November was higher than a 0.17% growth it realized in October this year.
Last month, 60 of the 100 cities had a sequential price increases, prices in 38 cites declined from the previous month and the remaining 2 cities saw price remain flat from a month earlier.
On YoY basis, the 100 cities' average price of residential properties fell 0.46%, reflecting a decline for the eighth consecutive month. However, the drop was smaller than the 1% decrease in October 2012.