Residential property prices in Sanya slightly drop in May
Statistics from China Index Research Institution showed that the average residential home price among 100 major cities in May was up 0.81% from a month earlier to 10,180 yuan per square meter.
However, 22 cities saw the housing prices decline compared with that of April and only one city remained unchanged.
Among them, average residential home price in Haikou decreased 0.45% month on month to 10,461 yuan square meters and Sanya dropped 0.72% to 23,477 square meters.
Compared with stable housing prices in Sanya and Haikou, many property developers and home buyers are eyeing in second- and third-tier cities across the island, where the housing prices are relatively low as a whole.