Chinese property market booming
19/1/2004 14:41
The Chinese real estate market continued to boom in the fourth quarter
of last year, with housing prices increasing by 5.1 percent from a year before,
land trading prices rising by 8.9 percent and housing rents up 2.2 percent,
eastday.com reported today.
According to a survey by the National Bureau of
Statistics to 35 large and medium cities in China, the domestic property
development investments maintained a rapid growth in the fourth quarter of last
year.
Housing prices in Shanghai from October to December last year increased
by 29.1 percent from a year before, the largest growth nationwide, while those
in Changchun and Guangzhou down 1.7 percent and 2.2 percent respectively.
Hangzhou has the largest growth in land trading prices, or 44 percent, in
the fourth quarter of last year, and the land trading prices increased by nearly
30 percent in Shanghai. Shijiazhuang is the only one in the 35 cities reported
decrease in land trading prices.
According to statistics, the Chinese housing
rents during the fourth quarter of last year increased by 2.2 percent from the
same period of a year before and 0.4 percent from the previous quarter.
In
the whole year last year, the housing prices, land trading prices and housing
rents rose by 4.8 percent, 8.3 percent and 1.9 percent respectively from a year
before.
Wendy Zhang/ Shanghai Daily news
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