Latest News:  
Beijing   Sunny    3 / -8   City Forecast

People's Daily Online>>China Business

Shanghai housing prices to drop in 2012: mayor

(Xinhua)

08:26, January 12, 2012

SHANGHAI, Jan. 11 (Xinhua) -- Shanghai Mayor Han Zheng on Wednesday said the government will continue with its policies aiming to bring down the prices of the city's new residential apartments.

Han told a municipal congressional meeting that Shanghai will carry on implementing the central government's package of policies, which include mortgage restrictions and limits on the numbers of homes people can own, to cool the property market while increasing land supply and deepening property tax reforms.

The mayor also said Shanghai will build more affordable apartments and public rental houses for the city's low-income families.

China's efforts to cool the red-hot property market paid off in 2011. Nearly 50 out of 70 major Chinese cities had reported monthly decline in the price of new apartments by November, the first decline in three years in the case of many cities.

Shanghai reported the first monthly drop in prices of new residential apartments in October. For the whole of 2011, new residential apartments were sold at an average of 22,432 yuan (3,532 U.S. dollars) per square meter, according to estimates by real-estate agents.

Email|Print|Comments(Editor:梁军)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Microsoft CEO gives keynote speech at CES in Las Vegas

  2. Kelantan FA beats Lions XII 2-1 at Malaysia Super League

  3. Matchmaker lines up right catch for seniors

  4. Miniature creations exhibited in Hong Kong

Most Popular

Opinions

  1. Will US decline soon?
  2. High-level visits can boost Sino-US ties
  3. S.Korea, China can pull up from their nosedive
  4. Helping Iran weather a looming storm
  5. Give up copying US standards without question
  6. How to make 3 billion trips in 40 days
  7. Greater say needed on yuan's convertibility
  8. Much ado about new stamps and dragons
  9. China takes frank, open stand on Myanmar issue

What's happening in China

Bicycle repairman finds the right gear

  1. Beijing to release real-time air-quality data
  2. Yangtze River valley face extinction threats
  3. Stem cell treatment due for a checkup
  4. Bank clients' data being leaked, sold
  5. 14 punished in mine blasts, bridge collapse

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance