In May this year, of 70 major Chinese cities surveyed, 65 cities saw higher prices in the new house market, three cities witnessed lower prices, while new house prices in the remaining two cities remained unchanged, all compared to April this year, according to data released by China's National Bureau of Statistics (NBS) on June 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in May this year was 2.9 percent.
On the other hand, on year-on-year basis, in May this year 69 cities saw higher new house prices, while one city saw lower prices. Accordingly, the highest year-on-year increase in new house prices in Chinese cities in May was 15.5 percent.