Beijing, Shanghai and Guangdong's Housing Price Topping the Rest of China

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Last updated at: (Beijing Time) Thursday, March 07, 2002

Beijing, Shanghai and Guangdong's Housing Price Topping the Rest of China

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According to a report on China's real estates conducted by National Statistics Bureau in 2001, Beijing, Shanghai and Guangdong are having an average housing price of over 3400 yuan per square meter atop the rest of China.

China's commercial housing price per meter was at an average of 2226 yuan last year, up 3.3 percent over the year before. Against an average price of 2068 yuan for per meter residential housing, office and commercial buildings were at an average of 3375 yuan and 4419 yuan respectively.

The report indicates that rebound had been brought on the real estates market last year from further carrying out of related policies on real estates and impacts of China's WTO entry and market demand. Investment and capital accumulation also increased; commercial housing sale grew steadily.

Statistics show that from January to December last year capital had been at an accumulated total of 737.8 billion yuan, up 29.8 percent. Investment in real estates took 22.4 percent of fixed asset investment, next only to infrastructure. A total of 624.5 billion yuan of investment in real estates was achieved last year, a rise of 25 percent over the year before.

In the second half of last year, commercial housing had an increased floor space completed. Against a decreased floor space, absolute idle floor space had been up to over 11 million square meters to show a 10.5 percent increase.

House Price Growth Rate Slows Down in China

Though house prices keep surging in recent years, the would-be buyers may get a comfort by a latest national survey suggesting the price rising will slow down in China.

The house price rose at an average rate of 1.8 percent in the final quarter of last year, 0.4 percentage point lower than that of the same period the year before. Full Story

Chinese Real Estate Sector Soars in 2001

The fast growing real estate sector has became one of the driving forces of China economy in 2001. The real estate market has benefited from a series of policies adopted by the government to stimulate the domestic demand and encourage investment. Full Story

By PD Online Staff Li Yan

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