Ministry: Housing prices drop by 0.6%
(Xinhua)
Updated: 2005-12-26 10:39

The Chinese Ministry of Construction said Monday the average housing prices in China's 70 major and medium-sized cities dropped by about 0.6 percent on a month-to-month basis since early July of 2005.

Input in real estate projects surged by 21 percent, down 7 percentage points, the ministry said at an annual national meeting on construction.

Speculative housing demand in the country has been curbed, and housing shortage has been eased to some extent in the cities of Shanghai and Hangzhou, both in east China, said the ministry.