Home prices drop faster

Weak sentiment: Workers at a housing project under construction. New home prices in 70 cities, excluding state-subsidised housing, declined 0.13% last month from January when they dropped 0.04%. — Bloomberg

BEIJING: China’s home prices fell at a faster pace in February, as easing measures failed to prevent the property industry downturn from worsening.

New home prices in 70 cities, excluding state-subsidised housing, declined 0.13% last month from January when they dropped 0.04%, National Bureau of Statistics (NBS) figures showed yesterday.