Real estate prices see falling trend

Property prices in China's 70 major cities fell 1.2 percent year-on-year in February, the third drop in a row since December 2008, the National Development and Reform Commission said in a statement yesterday.

The decrease rate is 0.3 percentage points higher than January when property prices dropped 0.9 percent on a yearly basis.

Beijing, Shanghai and Guangzhou, the largest cities in the country, all experienced a price fall, with a drop of 0.7 percent, 2.4 percent and 4.4 percent, respectively.