Home News Business Culture&Education Model Districts Investment People Photos
Site Search
Home / Photos

China reports higher house prices under new calculation scheme

Updated: 2011-02-21

China reports higher house prices under new calculation scheme

Residents take a rest at a residential community in Boao, south China's Hainan Province, Feb. 16, 2011. (Xinhua/Meng Zhongde)China's statistics agency said on Friday that under its readjusted calculation system, prices of newly-built properties in the nation's major 70 cities continued to rise in January.

Ten cities out of the 70 surveyed reported more than a 10 percent price increase from a year ago, the National Bureau of Statistics (NBS) said on its website.

Six cities also saw second-hand home prices climb at least 10 percent.

The new calculation system does not include the national property price index as it does not reflect the sharp price gap among different localities and lead to misunderstandings, according to the NBS online statement.

The agency also has adjusted its data collection system, compiling figures based on transactions records from city-level housing departments, instead of data reported by real estate developers and sellers.

The statistical reform is in response to the agency's failure to accurately reflect the nation's skyrocketing home prices. Its figures showed home prices only edged up 1.5 percent on average in 2009.

New home prices in Beijing rose 6.8 percent year on year in January this year, and those in Shanghai jumped 1.5 percent, while Chongqing's went up 7.9 percent, it said.

The Chinese government has been stepping up measures to rein in soaring housing prices that have become a major source of public complaints in the country's biggest cities. But property prices have remained stubbornly high.

The central government last month raised the minimum down-payment for second home purchases from 50 percent to 60 percent of the property's value and approved the launch of property taxes in Shanghai and Chongqing.

The Beijing Municipal Government on Wednesday announced new rules prohibiting new home purchases by Beijing families who own two or more apartments and non-Beijing registered families who own at least one apartment.

Other major cities will also issue their purchase limit rules to echo central government's regulation.

The NBS said it would release the housing price data on the 18th of every month.

   Previous 1 2 3 4 5 6 Next  

2010 China (Tieling) Int'l Commodity Business Expo opens
New park will host corporate headquarters
2010 China (Dalian) International Garment and Textile Fair
IT software fair kicks off
Earliest 'bird' fossil on display in Liaoning Pavilion
4th Magnesium Expo to be held in Shenyang in September
First Bohai Rim Economic Circle & Hubei Investor Cooperation Seminar held in Shenyang
Liaoning coastal cities attract 162 billion yuan investment
2011 Liaoning Annual Sessions
Liaoning, a fast developing province
2010 China (Dalian) International Garment and Textile Fair
Invest in Dalian
| About China Daily | Advertise on Site| Contact Us | Job Offer |
Copyright 1995 - 2010 . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.