In November, the average housing prices in 100 cities in China was 8,487 yuan ($1,274) per square meter. And in comparison with this month, they have grown 0.82 percent, according to the survey result of the China Real Estate Index System (CREIS).
Of the 100 cities, Shenzhen saw the highest adjustment, reaching 24,601 yuan ($3,693) per square meter. The other nine cities in the top 10 include Shanghai, Beijing, Hangzhou, Sanya, Wenzhou, Guangzhou, Ningbo, Fuzhou and Nanjing.
Among the 100 cities, 86 saw their prices grow and 14 experienced a drop in the past month. Of those where prices rose, second-tier cities shouldered the most. For instance, Zibo, Wuhu, Liaocheng, Zhuzhou, Urumqi, Kunming, Ganzhou, Qingdao, Zhanjiang and Hohhot all saw their housing prices up about 2 to 3 percent in the month.
While among first-tier cities: Beijing, Guangzhou, Shanghai and Shenzhen, only Guangzhou’s grew more than 1 percent and the other three saw the prices grow no more than 0.5 percent.
Chen Baocun, deputy secretary-general of the National Real Estate Manager Alliance, said that as prices skyrocket in first-tier and coastal cities, demand now turns to the second-tiers.