Beijing: Prices of new homes in China fell at a quicker pace in February, worsening for the first time in six months despite the country’s latest efforts to prop up the market. Prices in 70 cities, excluding state-subsidised housing, dropped 0.14% from January, when they slid 0.07%, National Bureau of Statistics figures showed Monday.
Values of used homes fell 0.34%, the same pace as a month earlier. Continued price declines may dampen hopes that the real estate market is bottoming out, even as sales show signs of improvement.
