Real Estate: Shanghai house prices drop
(Shanghai Daily)
Updated: 2006-08-10 14:12
Shanghai's average house price dropped by 2.8 percent on a yearly basis in
the second quarter of the year, the only one that posed a decline in 70 major
cities in China, China News Service said today.
The average price of homes in these cities rose by 5.7 percent from April to
June, compared to the same period of the previous year, it said, citing a report
released by the National Development and Reform Commission and the National
Bureau of Statistics.
The government in May enacted a string of control policies on credits and
loans to curb the over-heated property market, while "the growth rate in the
second quarter of the year is still a 0.2 percentage point higher from the
previous quarter," the report said.
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