The average residential home price among 100 major cities in August was down 0.59% from a month earlier to 10,771 yuan per square meter, according to the statistics from China Index Research Institution.
According to the report, 74 cities saw the housing prices decline compared with that of July.
Among them, average residential home price in Sanya decreased 3.05% month on month to 22,701 yuan square meters and Haikou dropped 1.33% to 9,966 yuan 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.
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