Local housing market still hot
21/8/2003 14:34
Shanghai's housing market has continued the growth momentum this year with
the prices flying high, data from the local housing index office
indicated.
As a result, definitions of the local high-, middle- and low-end
property have been updated, the office said.
Currently, the high-end housing
refers to those sell for higher than 7,000 yuan (US$847) per square rather than
6,000 yuan of a year ago.
The ceiling for low-end projects have risen from
4,000 yuan per square meter to 5,000 yuan and the price range of middle-end real
estate projects has grown from 4,000-6,000 yuan a square meter to 5,000-7,000
yuan.
Shanghai Housing Index has climbed 43, or 4.5 percent, to 996 in July,
an increase of 214, or 28 percent, from a year ago.
The 4.5-percent rise has
set a record high for the index in monthly growth, according to the housing
index office.
Jane Chen / Shanghai Daily news
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