Shanghai property prices fell more than 10% over the course of the last week following the announcement of new restrictions aimed to combat speculators, the South China Morning Post reported. For the week ended Thursday, prices fell 10.7% to an average US$1,053 per square meter, according to the Shanghai Property Trading Center at which real estate deals must be registered. Residential property prices were down 9.5% to US$1,186 per sq m, although inner city apartments still managed to record a 5.2% rise. Total turnover rose 3.9% as buyers and sellers rushed to complete transactions before the imposition of a 20% capital gains tax on sales, due to be introduced Tuesday. Shanghai property prices fell 5.2% in the first half of the year compared with the same period last year as investment in property development rose just 0.4% following a 15.5% increase in the first six months of 2005.