Home property prices in Beijing fell for the first time in more than two years in June, while Shanghai further declined and Shenzhen stalled, pointing to significant cooling in China's biggest real estate markets, official data showed.
Nationwide, home price growth slowed slightly in June as government efforts to keep prices in check weighed on larger cities, though smaller cities maintained rapid growth.
People in the industry expect home price growth in China's largest cities to stay on a mild slowing trend for the next 12 months.
