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New statistical way to study housing prices
By Cherry Cao |
February 17, 2011, Thursday
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Print Edition
Print Edition
A new statistical method to research property prices will be adopted by the National Bureau of Statistics from this year.
Online data registered with local housing watchdogs in half of the 70 major Chinese cities tracked by the bureau will be collected, according to a statement posted yesterday on the bureau's website. Formerly, figures submitted by developers themselves were used in studies.
The bureau will also stop issuing the average price change for the 70 cities because the country is so big and economic development in these areas varies greatly.
There will be two main categories of new houses, which consist of "commodity" houses (referring to homes excluding those built under affordable housing programs) and affordable houses. For both commodity and existing houses, they will all be divided into three groups: 90 square meters or smaller, between 90 and 144 square meters and larger than 144 square meters, the statement said.
Starting this year, the monthly property figures will be released on the 18th day of every month, one week later than the previous practice, the bureau said.
Online data registered with local housing watchdogs in half of the 70 major Chinese cities tracked by the bureau will be collected, according to a statement posted yesterday on the bureau's website. Formerly, figures submitted by developers themselves were used in studies.
The bureau will also stop issuing the average price change for the 70 cities because the country is so big and economic development in these areas varies greatly.
There will be two main categories of new houses, which consist of "commodity" houses (referring to homes excluding those built under affordable housing programs) and affordable houses. For both commodity and existing houses, they will all be divided into three groups: 90 square meters or smaller, between 90 and 144 square meters and larger than 144 square meters, the statement said.
Starting this year, the monthly property figures will be released on the 18th day of every month, one week later than the previous practice, the bureau said.
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