Housing prices in major Chinese cities up 5.7% in July
(Xinhua)
Updated: 2006-08-15 21:41
BEIJING -- Housing prices in 70 major Chinese cities rose an average 5.7
percent in July over the previous year, down 0.1 percentage point from the
previous month, the National Bureau of Statistics (NBS) said Tuesday.
The prices of new commodity housing increased by 6.7 percent, up 0.1
percentage point over June. Shenzhen, a south China city bordering Hong Kong,
recorded a 13.6 percent rise in its prices of new commodity houses, the highest
of all cities.
It was followed by Beijing at 11.1 percent, Hohhot(Inner Mongolia) at 9.6
percent, Guangzhou (Guangdong Province) at nine percent and Chengdu (Sichuan
Province), also nine percent.
The continued price increases are challenging the central government's
efforts over the last three years to stabilize housing prices and has provoked
criticism of the government's housing policy.
The latest efforts taken by the government include ordering developers to
build smaller houses affordable to lower-income families and imposing
restrictions on property acquisition by foreign residents and organizations.
But in Shanghai, the situation is different. The prices of new commodity
housing in the city dipped by 3.5 percent in July.
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