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Housing price growth slows down
The growth rate of national housing price decreased 1.8% in the second quarter this year, an indicator that macroeconomic adjustment policies announced in March to cool down property market began bearing fruits, reported Beijing Morning Post on Thursday. The survey, conducted by the Commission of Development and Reform and the National Bureau of Statistics, found that the housing price in 35 cities in China increased 8% from March to June, compared with the previous quarter, which was 1.8% lower than the 9.8% in the first quarter. The slowdown in property price growth was even more obvious in some other cities, the survey found. In the second quarter, the growth of housing price in Shanghai ranked the highest, followed by Beijing and Xiamen. The average housing price in Shanghai was 8,355 yuan (more than US$1,000) per square meter, while in Beijing and Xiamen, the prices were respectively 7,036 yuan (US$850) and 6,990 yuan (US$845) per square meter, according to the Beijing Morning Post. Besides, the price level in Shenzhen, Ningbo, Hangzhou and Guangzhou were also higher than 6,000 yuan, with each square meter costing 6,750 yuan, 6,606 yuan, 6,484 yuan and 6,300 yuan respectively. In Nangjing, the average housing price was 5,270 yuan. The prices in all
other cities are below 4,800 yuan (US$580).
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