Wednesday, 18 April 2012 10:49
SHANGHAI: New home prices in two-thirds of China's major cities fell in March, the government said Wednesday, as officials maintain policies to curb the property market.
China has implemented several measures aimed at limiting runaway property prices for more than a year, including bans on buying second homes, hiking minimum down-payments and introducing property taxes in select cities.
Out of 70 major cities tracked by the government, 46 recorded falls in home prices in March from the previous month, the National Bureau of Statistics said one more than February.
Only eight cities registered price rises while 16 were flat, the bureau said in a statement.
"New home prices are generally continuing to go lower," it said.
Cities with active property markets such as Beijing and Shanghai, and Guangzhou and Shenzhen in the south, have seen prices fall for six straight months, the bureau said.
Analysts say measures aimed at limiting prices are threatening the country's economy ...