Home prices in downtown Beijing top 10,000 yuan per square meter
16/4/2004 14:45
Average residential housing prices in downtown Beijing exceeded more than
10,000 yuan (US$1,205) per square meter last year, according to the DTZ Debenham
Tie Leung, one of the world's leading real estate advisory companies,
eastday.com reported today.
Properties at the Chaoyang, Haiding and Fengtai
District of Beijing had strong sales last year, due to sufficient supplies,
reasonable prices and great development potential.
According to statistics,
common residential housing accounted for 92 percent of the total sales last
year, followed by villas and high-end apartments.
Common homes are still the
most needed products in the real estate market, while villas and luxury
apartments, with higher prices, are only affordable to a small number of wealthy
buyers, said an industry analyst.
Residents in local urban areas and towns
were the main home buyers last year, followed by individual purchasers from
outside the city, according to statistics.
Beijing, with strong development
potential, has attracted an increasing number of people from outside the city to
develop careers there, the analyst pointed out, adding that local relaxed
home-purchasing policies specifically for out-of-towners has also fueled the
real estate market.
Wendy Zhang/ Shanghai Daily news
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