Beijing, Shanghai and Guangzhou have highest housing prices
22/5/2003 14:27
Domestic housing prices reached 2,477 yuan (US$298) per square meter
on average in the first four months of the year, up 7.4 percent from a year
before, with the highest prices in Beijing, Shanghai and Guangzhou, according to
the National Bureau of Statistics yesterday.
Domestic residential
property prices reached 2,299 yuan per square meter on average.
Average
property prices in Beijing and Shanghai exceeded 4,300 yuan per square meter,
with those in Guangdong Province topping 3,300 yuan per square
meter.
Investments in the domestic real estate sector amounted to 344.3
billion yuan from January to April this year, an increase of 47.33 percent from
a year before, according to statistics.
Sufficient capital is the main
impetus in the domestic real estate market, said an industry
analyst.
Construction of 42.81 million square meters of housing was
completed in the first four months of the year, increasing by 37.4 percent from
a year before, 18.2 percentage points higher than last year's growth, with 35.46
million square meters of residential properties completed, up 37.4 percent from
a year before.
The completed area of office buildings and business space
from January to April increased by some 40 percent from a year
before.
Wendy Zhang/ Shanghai Daily news
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