China?s housing bubble is still getting the wind knocked out of it.? Real estate prices fell to a 16-month low in May as officials pledged to keep property curbs that have sapped demand, according to SouFun Holdings Ltd, owner of the nation?s biggest real estate website.
China?s deflating real estate bubble is more ala Japan than it is similar to the U.S.? Japan?s real estate bubble inflated in the 80s before losing nearly 60% of its value within a decade.
In China, home prices are declining slowly.? The fell just 0.3% from April to 8,684 yuan ($1,364) per square meter, SouFun said in an e-mailed statement on Friday, based on its survey of 100 cities in the country.
The figure was the lowest since January last year and the ninth month-on-month decline. It is also the longest decline since Soufun started compiling the data in July 2010, China Daily reported on its website Saturday.
Housing values dropped in 73 cities while 26 posted gains, and one reported no changes in residential prices, the paper reported. Prices in the 10 biggest cities, including Beijing and Shanghai, fell 0.5% from April, and 3.2% year-over-year.
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