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New home prices rally for six consecutive months in Beijing
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10:43, September 16, 2009

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According to data released by Beijing Municipal Bureau of Statistics, house prices in Beijing increased 1 percent in August year on year. The growth rate is 0.9 percentage points higher than the previous month. Property transaction totaled 14.43 million square meters in the first eight months, 1.3 times higher than the same period last year.

August's residential house prices in Beijing were 1.3 percent higher than July. The upbeat trend has remained unchanged for six consecutive months. Prices of second hand houses declined 2.2 percent year on year. The decline rate is 0.7 percentage points lower than July.

From January to August, property development investment in Beijing totaled 147.84 billion yuan, up 44.2 percent year on year. Property development investment in August totaled 27.33 billion yuan, 3 times higher than the same period 2008.

By People's Daily Online

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