Shanghai housing index climbs at slower speed

Shanghai's existing housing index rose for another month in February, albeit at a slower pace.

The index, which checks price changes of pre-owned homes across the city, rose 2 points, or 0.06 percent, to 2,943 points last month, extending gains for the 21st straight month, the Shanghai Existing House Index Office said yesterday.

In January the index rose 0.26 percent, and 0.63 percent in December.

Citywide, the pre-owned home prices climbed in 49 of the 130 areas monitored by the office while 31 saw a decline. Prices were flat in the remaining 50 areas, the office said.