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Housing price remains high

(chinadaily.com.cn)
Updated: 2007-05-17 16:54
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Housing prices in 70 major cities continue to rise, with the average rate increasing at 5.6 percent in the first quarter, said a report released by the National Development and Reform Commission and National Bureau of Statistics yesterday.

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Shenzhen was the top one, with its housing price jumping 12.6 percent, and Beihai, a coastal city in Guangxi, in the south, at 10.1 percent , the second and followed by Beijing, 9 percent, the third .

On the second-hand housing market, Shenzhen and Zhengzhou rose more than 10 percent, and Beijing achieved a 9.5 percent increase.

Meanwhile, the land exchange price rose 9.8 percent in the first quarter, meaning a 3.7 percent year-on-year increase, reported China Youth Daily.

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