Over 80 percent of Beijing residents bought properties for living purposes. In the fourth quarter of last year, most purchasers (75 percent) could only afford up to 2,000 yuan (US$241) in monthly housing mortgage payments, according to a spot check by the Beijing Urban Construction Research Center.
The survey also states that 75 percent of the home buyers had an annual family income of less than 100,000 yuan, with just over 90 percent able to buy homes priced at only under 7,000 yuan per square meter, and just over half able to afford homes at less than 5,000 yuan per square meter.
Sixty-three percent of the property buyers were under 40; there were an increasing number of young purchasers aged between 21 and 30.
Twelve percent planned to buy high-end properties and 8 percent purchased housing for investment purposes.
The central bank's raising of interest rates has not significantly affected the real estate market in Beijing, with 84 percent of prospective buyers saying that the policy would not interfere with their home-purchase plans.