In December last year, the average prices of new residential housing in 100 major cities in China rose by 0.70 percent month on month to RMB 10,833 ($1,776) per square meter, as announced on January 1 by the China Index Academy, a Beijing-based real estate research institute. The increase constituted the 19th consecutive month-on-month rise in new residential housing prices in China. The month-on-month increase rate of average prices recorded in November last year was 0.68 percent. Of the 100 cities surveyed in December, 68 cities saw increases in residential housing prices, while 32 cities witnessed declines, both on month-on-month basis.

On year-on-year basis, in December last year average new residential housing prices in the 100 major cities in China rose by 11.51 percent, with a 0.52 percentage point increase in the year-on-year growth rate compared to November.

Furthermore, the average residential housing price in the 10 biggest cities in China in December last year was RMB 18,994 ($3,114) per square meter, up 1.31 percent month on month and increasing by 17.56 percent year on year.