Housing prices in China's first-tier cities turned lower in October

Housing prices in China's first-tier cities turned lower in October. In October, the number of cities with month-on-month declines in house prices increased slightly. The sales prices of newly built commercial residential buildings in first- tier cities turned from flat in the previous month to a decrease of 10.0%. Second-hand residential properties fell 2.0% month- on-month from a 2. 0% increase in thePrevious month. The number of city where the prices of Newly built commercial housing and second-hand housing increased fell to 67 and 2 respectively.

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