Statistics publicized by Guangzhou Municipality's Bureau of Land Resources and Housing Management on January 8th showed that the commercial housing prices dropped in November of 2007 compared with the previous month of that year.

According to statistics, promotion activities in relation to discounts suggested that real estate market was confronting declining sales. During November, 2007, the average price for newly-built commercial housing in Guangzhou's ten districts reached RMB10, 433 per square meter, up by 57.3% compared with the same period of 2006 and 9.9% lower than October, 2007. In all the ten districts except Nansha District, the average price for newly-built apartments with each one smaller than 90 square meters was RMB6,289 per square meter.

Editor: Yan