In October of this year, out of 70 surveyed large Chinese cities, prices for new housing in first-tier cities decreased by 0.3 percent month-on-month, the same as in September month-on-month, although they decreased by 0.8 percent year-on-year, 0.1 percentage points faster than the decline in this September, as announced by the National Bureau of Statistics of China (NBS).
In China's second-tier cities, prices for second homes fell 5.2 percent year-on-year in October, while the rate of decline was 0.2 percentage points faster than in September. In third-tier cities, the growth rate of prices for secondary housing in October decreased by 5.7 percent year-on-year, as in September.
