Property particulars
A central bank survey conducted in 50 cities in late February showed home buyer willingness in the first quarter had dropped 1 percent compared to the last quarter. However, the Beijing market bucked this trend, rising 1 percent compared to that of last quarter.
More than 65 percent of respondents were in the middle to high-income group.
Media reports showed property prices in Beijing rose between 500 yuan ($64) to 1,000 yuan ($129) per square meter entering 2007. According to 5i5j, a real estate agent company, the average trading price of second-hand Beijing properties in the first quarter increased by 15.63 percent from 6,083 yuan ($788) per square meter of the same period of last year.
A survey released by Beijing Consumers' Association in early March showed more than 70 percent of the respondents believed house price rises would continue.
China Daily
(China Daily 04/10/2007 page19)
