Home price drop spreads to more Chinese cities

Source: Xinhua | November 18, 2011, Friday |

Online Edition

MORE Chinese cities posted monthly home price declines in October following the government's campaign to calm the runaway property market.
In October, 34 of the statistical pool of 70 major cities saw declines in new home prices from September, compared with 17 in September, the National Bureau of Statistics said today.
New home prices in 20 cities stayed flat last month from September, and the growth rates of home prices in the other cities were all below 0.2 percent, the bureau said on its website.
On a year-on-year basis, two cities out of the 70 reported prices decline in October, compared with one in September. Gains of new home prices eased in 59 cities, the bureau said.
Prices of existing homes fell in 38 cities in October, an increase of 13 cities from September, while those in 19 cities stayed flat, it said.

Real Estate

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Home price drop spreads to more Chinese cities

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