[photopress:real_estate_Xiaokang.jpg,full,alignright]Despite a series of state policies and regulations implemented to control the overheated property sector, housing prices keep soaring in China. Xiaokang, a Chinese language magazine shown in our illustration, provides a detailed analysis of the price hike in ten cities.
You can access the full China.org.cn English language version of the article using the link Source at the end of this article.
Beijing: land in short supply. Liu Weixin, a researcher with the Chinese Academy of Sciences disputes the opinion that the 2008 Beijing Olympic Games will be a turning point in prices. He said that after 2008, Beijing will still be the capital and the influx of population will not change.
Shenzhen: convenient travel to HK. Professor Ye Jianping, dean of the Land Management Department of Renmin University of China, said, ‘Many Hong Kong residents buy houses in Shenzhen for the convenient transportation and comparatively low price.’
Tianjin: close ties with Beijing Expressways and bullet trains between Beijing and Tianjin have now makes it possible almost to commute. Tianjin also has its own dynamic economy.
Guangzhou: dynamic capital city. The once stable real estate market in Guangzhou, capital city of South China’s Guangdong Province, has witnessed price rises since June.
Beihai: beauty at a cost. The price increase of new commercial housing in Beihai, a coastal city in south China’s Guangxi Zhuang Autonomous Region, has topped the national list for three consecutive months, according to figures released by the National Development and Reform Commission.
Shanghai: World Expo. The real estate market in Shanghai got a new momentum after the city’s successful bid to hold the 2010 World Expo.According to research conducted by Fortune magazine, 92% of more than 40,000 multinational corporations consider establishing regional headquarters in China and 45% among them choose Shanghai as the first choice.
Hangzhou: house or investment tool? A city famous for its West Lake in east China’s Zhejiang Province According to Wang Zhigang, an industrial insider, the real estate market in Hangzhou is stirred up by the outside wealthy. They buy houses here both for living and investment.
Nanjing: rigid demand increase. Nanjing, capital city of Jiangsu Province, set records in housing prices when a new project’s price jumped by 1,200 yuan (US$158) per square meter in two hours.
Chongqing: municipality effect. From June 17 to 25 this year, just nine days, the average price soared from RMB2,800 ($369) to RMB3,055 ($403), a 7.6% increase.
Chengdu: investing in a central area.As a new special zone, Chengdu has huge potential. With the operation of two metro lines, more price soars are expected in Chengdu’s downtown areas.
Zuo Xiaolei, chief economist for China Galaxy Securities said, ‘The property sector will play a large role in development in the long term. However, the policy makers should pay more attention to the construction of middle and low-end housing to meet the effective demand which could not be fully represented by a huge money flow.’
For the full article use the Source link.