Affordable housing sees first price fall in 2007

The price of affordable housing in China's 36 key large and mid-size cities went down 1.2% in August, according to the National Development and Reform Commission (NDRC), Beijng News reported (in Chinese). The price fall – the first recorded this year – is seen as evidence that a national policy to provide more affordable housing is taking effect. Affordable housing is targeted at low income families. The average price for standard small-size commercial housing – properties that are less than 90 square meters and available to all consumers – increased slightly, although there was also a slight increase in supply.