2011-03-08 13:54

In the first week of March (Feb 28 to March 6), both the trading volume and prices declined in China's real estate market. The drop was a result of the implementation of the home purchasing limits, the Shanghai Securities News reported Tuesday.

According to statistics from the China Index Research Institute, among the 30 cities monitored by the institute, 70 percent saw a decline in trading volume, the report said.

Trading volume – in terms of area – of newly-built commercial houses in Shanghai decreased by 10 percent compared with the previous week. The average sale price also decreased by 14.1 percent – to 17,737 yuan ($2,637.47) per square meter. That's back to the levels from early 2010, the report said.