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Housing prices continue to fall

Updated: 2012-04-18 15:12

By Huang Ying (

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Housing prices fell in more than 60 percent of China's major cities in March, the National Bureau of Statistics (NBS) reported on Wednesday.

The price of new housing, excluding subsidized housing, fell in 46 out of 70 cities surveyed, compared to the previous month. Prices in eight cities increased; prices in 16 cities remained unchanged, the NBS said.

In the existing home market, prices in 42 out of 70 cities fell in March, while prices in 12 cities remained unchanged.

In the 16 cities where the price of existing housing increased, the average price hike was less than 0.8 percent.

On a yearly basis, 38 out of 70 cities saw prices for new homes fall, 11 more than in February. In the existing home market, 49 out of 70 cities reported a price drop, 5 more than in February.

China began adopting measures to curb soaring property prices in 2010. The measures have included tighter lending policies, higher down payments, ban on third-home purchases, property tax trials, and the construction of low-income housing.