A recent industry report about housing prices in 150 cities around the world showed that Shenzhen witnessed the largest growth from the first quarter of 2015 to the first quarter of 2016.

According to the report, released by real estate consulting company Knight Frank, Chinese cities occupied four of the top 10 spots on the list. After Shenzhen, where housing prices rose by 62.5 percent over the course of a year, Shanghai, Nanjing and Beijing also ranked in the top 10. In addition, Guangzhou surpassed London to become 13th on the list, with a 15.3 percent growth.

Some Chinese cities are now being forced to take measures to cope with the rising prices. For instance, Xiamen, a city in southeastern China, has raised its ratio of down payments from 40 percent to 60 percent for people who are currently repaying a mortgage, and for people with two or more mortgages.