China housing prices decline to a 1 year-low on curbs

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AP

In October Chinese home price dropped in 33 out of 70 cities observed by government, the weakest performance since the implementation of property curbs. According to Shen Jian-guang, economist at Mizuho Securities Asia Ltd, the drop is the breaking point for Chinese home market as prices begin to fall not only in big cities and for new built real estate but also in smaller cities and in existing property market. 

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