In February this year, of the 70 major Chinese cities surveyed, new housing prices in first-tier cities remained stable month-on-month, compared with a 0.3 percent decline observed in January, while they fell 2.2 percent year-on-year, 0.1 percentage point faster than the year-on-year decline in January this year, as announced by China's National Bureau of Statistics (NBS).
In second-tier cities China's secondary housing prices fell 6.2 percent year-on-year in February, while the rate of decline remained unchanged from January and decreased by 0.4 percent month-on-month. In third-tier cities, prices for existing housing fell 6.3 percent year-on-year in February, with the rate of decline 0.2 percentage points faster than in January, while they fell 0.5 percent month-on-month.
