Tue, March 10, 2009
Business > Industries

Chinese urban home prices down 1.2% in February, 3rd monthly fall

2009-03-10 07:33:22 GMT2009-03-10 15:33:22 (Beijing Time)  Xinhua English

BEIJING, March 10 (Xinhua) -- Prices of new and existing homes in 70 large and medium-sized Chinese cities fell 1.2 percent year-on-year in February, the government said Tuesday, the third monthly decline in a row.

The decline was 0.3 percentage points larger than the month-earlier level, according to a joint statement by the National Development and Reform Commission and the National Bureau of Statistics.

Prices of newly built homes in 30 cities dipped year-on-year last month, with the southern cities of Shenzhen and Guangzhou recording the largest declines of 16.3 percent and 8.9 percent, respectively.

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