Latest data show residential prices still increasing

The average price of residential property space being sold by commercial property developers has increased 18.8 percent year-on-year in the first two months of 2013 to 7,030 yuan per square meters, while the average home price surged 20.6 percent to 6,637 yuan per sq m, according to the China Index Academy, a research institute attached to the country's largest real estate website, SouFun Holding Ltd. An analyst from the institute was reported in the Guangzhou-based newspaper Southern Metropolis Daily as attributing the rises to the recent sales boom and low prices last year.

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