Housing Prices Up in ChinaThe housing price index in China rose to its highest level of the past 15 months in March, according to official figures.The figures, released on April 19 by the National Bureau of Statistics (NBS), show that the housing price index grew up to 97. 45 points in March, 3.83 points higher than in February. The NBS said that surges in total area and volume of sales propelled the housing prices up. Contract investment in real estate also jumped to a seven-month high in March, increasing 20.4 percent year-on-year to 53.45 billion yuan. However, the growth rate of funds actually used in real estate development in March was less than half that of one year ago. The area of developed land and completed housing also saw slower growth in March, while stockpiles grew at a more rapid rate. These factors weighed the general indicator of the real estate industry down to 101.82 points in March, 2.57 points lower than one year ago, and 0.75 points lower than in February. However, the NBS said that the real estate indicator was still in the positive zone. |
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