Source: CCTV.com
03-11-2009 08:54
Special Report: House Market under New PolicyAccording to the top economic planner, housing prices in 70 major Chinese cities continued to drop in February.
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| According to the top economic planner, housing prices in 70 major Chinese cities continued to drop in February. |
On Tuesday the statistics bureau said average prices in those urban areas dipped 1.2 percent year-on-year. This is a faster fall than the previous month. In particular, newly-built houses saw their prices drop 1.8 percent. But prices of budget housing rose 0.3 percent. The city that suffered the largest decline was Shenzhen, with a 16 percent price tumble.
In the mean time, second hand housing prices also sank 0.7 percent in February, twice as fast as in January.
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Editor:Xiong Qu
