76 cities see housing prices up in Oct.

08:52, November 04, 2010      

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The average residential selling price in Chinese cities was 8,418 yuan ($1,261) per square meter in October, an increase of 0.66 percent compared to September, according to reports citing data released by the China Real Estate Index System (CREIS) Statistical Study on 100 random cities Tuesday.

Among the 100 cities surveyed, the price in 76 increased and only 24 cities faced a decline. While the price in Baoji, Shaanxi Province, raised the most, 3.48 percent.

Baoji, Hohhot, Xuzhou, Changshu, Zhenzhou, Taizhou, Dezhou, Guangzhou, Luoyang and Nanchang are top tencities in China with the fastest price-growing speed in October.

And the top ten cities with the highest housing prices are Guangzhou, Shanghai, Beijing, Hangzhou, Sanya, Wenzhou, Guangzhou, Ningbo, Nanjing and Fuzhou, at an average of 15,345 yuan ($2,300) per square meter.

Due to economic inflation,the expectation on the yuan's appreciation and real estate speculation, hope for declining prices is yet to be awaited, said analysts.

Source: Global Times


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