China Financial Daily

Shanghai average price for new house is 1.506 million yuan for each, which falls by 172,000 yuan
E-house China issues the latest report, it shows that since the global financial crisis in June last year, Shanghai new house average price reduces to 1.506 million yuan / set from 1.678 million yuan / set in the first half of 2008, so each house falls by 172,000 yuan and decline 10.3%. Rising house prices over the years give the increasing pressure on buyers, and finally, the prices have been eased after the advent of the financial crisis.

Shanghai housing prices dropped back to the level in a year ago
Under the interaction between the Government support and cold economy ware, Shanghai housing price declines and the prices have returned to the level in one year ago. The statistics show that in December, the trading volume for Shanghai new commercial houses reaches nearly 800,000 square meters, which is higher than the volume for 710,000 square meters in November. The trading volume increases, but the prices declining become the important support for the trading volume.

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