Housing prices in 100 major cities in China fell for the second consecutive month in May from the previous year, though they showed a slightly smaller decline on a month-on-month basis, the Dow Jones news agency reported Friday, citing a survey of property developers and real-estate agencies.
The China Real Estate Index System said the survey showed the average home price in May fell 1.53 per cent to 8,684 yuan (S$1,754) a square meter on-year, accelerating from April’s 0.71 per cent decline.
On a sequential basis, average home prices fell for the ninth consecutive month, dropping 0.31 per cent from 8,711 yuan in April, slightly less than the 0.34 per cent decline recorded last month.
Property prices in 73 cities fell in May compared with the previous month, whereas 26 cities posted a rise and one city posted no change, the China Real Estate Index System said.
Source : Today – 2012 Jun 1
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