SEOUL: South Korea’s home prices fell for a ninth consecutive month in February but the pace of declines slowed for a second month following a series of government measures aimed at averting a hard landing, data showed on Wednesday.

Housing prices across the country fell 1.15% in February, following declines of 1.49% in January and 1.98% in December, the Korea Real Estate Board data showed.

The December rate was the fastest drop since data releases began in late 2003.

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Earlier this year, South Korea launched several policy measures to support sharply falling property prices, including easing of financial regulations on home buyers in most districts of the capital Seoul.