According to internal media reports, the China Real Estate Index Research Institute released survey data on the residential real estate market in 100 cities nationwide based on the China Real Estate Index System. In November of this year, the average price of second-hand residences in one hundred cities was 14,278 RMB/square meter, a monthly decrease of 0.57%, a slight decrease from October's 0.03 percentage points. On a yearly basis, there was a 7.29% decrease. The average price of new residential homes in one hundred cities was 16,592 RMB/square meter. This month, driven by high-quality improvement projects entering the market, new home prices showed a structural increase of 0.36% monthly and a 2.40% increase annually. The average monthly rent for residences in fifty cities nationwide was 35.6 RMB/square meter, a monthly decrease of 0.66% and a yearly decrease of 3.18%. In November, the housing rental market continued to be in the off-season, with demand relatively low, causing a slight monthly decline in average rent in key cities.
Looking at the number of cities where housing prices rise or fall, according to the China Real Estate Index System's Price Index for one hundred cities, in November, the number of cities where second-hand residence prices fell monthly decreased to 96. Shenzhen, Chengdu, Urumqi, and Dongying saw an increase in second-hand housing prices, breaking the trend of all downward prices in one hundred cities for seven consecutive months, sending out bullish signals. The number of cities where new residential home prices decreased monthly was 40, with a decrease of 3 cities from the previous month.