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Shanghai's housing prices 2nd-highest
By Pan Xiaoyi |
December 2, 2010, Thursday
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Print Edition
Print Edition
SHANGHAI posted the second-highest average housing price in the country and saw rapid annual price gains in November when average prices in 100 major Chinese cities edged up 0.82 percent from a month earlier to 8,487 yuan (US$1,267) per square meter, a report said yesterday.
Shanghai's average housing price was 23,333 yuan per square meter last month, following Shenzhen's 24,601 yuan, according to the China Real Estate Index System Statistics Study released yesterday by China Index Academy.
Shanghai's average price rose relatively fast on an annual basis, with a gain of 37.2 percent. The monthly increase was 0.4 percent.
The nationwide growth in average housing prices last month accelerated slightly from a 0.66 percent rise in October. Of the 100 cities, only 14 saw housing prices fall on a monthly basis while the remaining 86 experienced price rises of up to 2.5 percent.
The price rise came despite several tightening policies introduced by the government from mid-April to clamp down on property speculation.
For example, the China Securities Regulatory Commission has shelved approval for merger applications from property developers to rein in their capital flow.
It has also halted fundraising plans by developers.
Shanghai's average housing price was 23,333 yuan per square meter last month, following Shenzhen's 24,601 yuan, according to the China Real Estate Index System Statistics Study released yesterday by China Index Academy.
Shanghai's average price rose relatively fast on an annual basis, with a gain of 37.2 percent. The monthly increase was 0.4 percent.
The nationwide growth in average housing prices last month accelerated slightly from a 0.66 percent rise in October. Of the 100 cities, only 14 saw housing prices fall on a monthly basis while the remaining 86 experienced price rises of up to 2.5 percent.
The price rise came despite several tightening policies introduced by the government from mid-April to clamp down on property speculation.
For example, the China Securities Regulatory Commission has shelved approval for merger applications from property developers to rein in their capital flow.
It has also halted fundraising plans by developers.
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