18 Dec '11, 11pm

Home prices fall in major Chinese cities: BEIJING - China's home prices posted their worst performance this year...

BEIJING - China's home prices posted their worst performance this year with more than half of the 70 biggest cities monitored last month recording declines after the government reiterated plans to maintain property curbs. New home prices dropped from the previous month in 49 of the cities monitored by the government, compared with 33 posting decreases in October, the national statistics bureau said in a statement on its website yesterday. Only five cities had gains in home prices, according to the statement. The government said in the past week it will not back away from real-estate industry curbs that are damping home sales and pulling down prices. China intensified measures this year by raising down-payment and mortgage requirements, and also imposed home purchase restrictions in 40 cities. "It's more and more clear that home prices are falling around the country," said ...

Full article: http://www.todayonline.com/World/EDC111219-0000029/Home-p...

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China says property prices fall in more cities

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