Property market cooling

More cities see home prices drop or remain unchanged as policies bite

BEIJING - More cities reported lower or unchanged real estate prices in August than in July, the National Bureau of Statistics (NBS) said on Sunday, in the latest sign that government efforts to cool the market are working.

Property prices in August in 46 out of 70 monitored major cities declined or stayed flat. Just 31 cities reported similar market conditions in July, according to the NBS.