Summary
In May 2005 the new housing construction cost index on the mainland dropped by 1.2% from the same month in 2004, which represents a slight 0.1 percentage point (p.p.) easing from the growth pace observed in May. The year-on-year change in the housing regular repair and maintenance price index on the mainland was 3.0%, remaining stable from the previous month. The year-on-year rate of change in the services component was 3.2%, growing by 0.2 p.p., while products for housing regular maintenance and repair remained stable from previous period, at 2.9%.