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Chinanews, Beijing, Apr. 18 – Although Chinese government has taken measures to regulate property market, the housing prices still keep on rising. On Tuesday, the State Development and Reform Commission and the National Bureau of Statistics jointly1 issued a set of data, which shows that in last March, the housing sales price in 70 big and medium-sized cities across China rose by 5.9% compared with the same period last year. The growth rate was 0.6 percentage point higher than that of last month.
In last February, prices of newly built commercial houses sold in 70 cities across China rose by 6%. Housing prices in Shenzhen, Beijing and Guangzhou grew by 10.7%, 9.9% and 8.6%, respectively, the fastest among all. Price of used houses continued to grow in Shenzhen, Beijing and Dalian, with such price growing the largest in Shenzhen among all cities. In last March, price of used houses increased at an average rate of 12.7%. In recent years, Chinese government has taken a series of measures trying to drag down the housing price and some of the measures are really tough. Despite this, housing prices continue to soar in China. Days ago, Chinese officials admitted that housing prices remained high in some large cities despite government efforts. At present, housing supply structure is still inappropriate, since only 16.1% of the new commercial houses are built with a floor space of less than 90 square meters each, while Chinese government has hoped that the proportion of such houses should account for 70% of the total houses sold. In addition, the low-rent housing system launched by the government only covers a limited number of people and is therefore unable to drag down the housing price as government expects.
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