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Shanghai Leads China in Housing Price Rises
Shanghai had the largest increase in residential house prices among the 35 large and medium- sized Chinese cities in the first half of this year.
The average price of residential houses sold in Shanghai, China 's leading industrial center, was 4,173 yuan per square meter in the first half this year, 230 yuan, or 5.8 percent, higher than that at the end of last year.
A real estate expert attributed the purchasing price increase to brisk sales and a short supply of houses. When the Olympic Garden in suburban Shanghai want on sale, 200 people braved the rain to queue to purchase the apartments. The first lot of 400 apartments sold out in just two days.
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