Housing price decline slows down

The latest figures from the National Bureau of Statistics show that residential house prices declined at a significantly slower rate in May, triggering concerns over a short-term rebound in prices.

In May, of the 70 large and medium-sized cities monitored by the bureau, 43 cities' sale prices declined, there was no change in 21, and six saw an increase.

By comparison, in April, the same number of cities saw a decline, there was no change in 24 and three saw an increase, which means that three more cities were experiencing price growth and fewer cities were able to maintain price stability.

Beijing's housing index remained flat in May, bringing an end to four months of falling prices.

In other major cities such as Shanghai, Guangzhou, Shenzhen and Qingdao, although prices declined by 0.3 to 0.1 percent, the rate was slower than the previous month.

The latest figures from the National Bureau of Statistics show that residential house prices declined at a significantly slower rate in May, triggering concerns over a short-term rebound in prices. In May, of the 70 large and medium-sized cities monitored by the bureau, 43 cities' sale prices declined, there was no change in 21, and six saw an increase.

By comparison, in April, the same number of cities saw a decline, there was no change in 24 and three saw an increase, which means that three more cities were experiencing price growth and fewer cities were able to maintain price stability.

Beijing's housing index remained flat in May, bringing an end to four months of falling prices.

In other major cities such as Shanghai, Guangzhou, Shenzhen and Qingdao, although prices declined by 0.3 to 0.1 percent, the rate was slower than the previous month.

This is reminiscent of 2009, when prices doubled in several months after Beijing rolled out a 4-trillion-yuan stimulus package, the newspaper said.

Bad memories have already made some homebuyers increasingly impatient. Wu Yifeng, a 30-year-old marketing specialist in Shanghai, is one of them.

Wu said he started to search for his first apartment in May.