Tue, March 10, 2009
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.
