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Chinanews, Beijing, Aug 14 – During the first half of this year, housing price in various Chinese cities rose substantially. At present, the housing price in many cities is already very high. Despite this, a report predicts that due to short supply, housing price might continue to rise during the second half of the year.
The report was released by the China Real Estate Association on Saturday. Recently, housing price in many cities has continued to rise. In large cities, like Beijing and Shenzhen, housing price has been rising by about 10% for several months consecutively1. In second- and third-tier cities, like Nanjing, Hangzhou, Ningbo and Shijiazhuang, housing price has also climbed. According to information released by the State Development and Reform Commission and the National Statistics Bureau, last June the price of newly built commercial houses in 70 Chinese cities rose by 7.4% companied with the same period last year, or some 0.8 percentage point higher than the previous month, a new high in both cases. A recent survey shows that 80% of the residents in Beijing, Shanghai, Shenzhen and Tianjin think the current housing price is fairly high. In Beijing, 50% of the residents think houses sold in Beijing are too expensive. Due to the unaffordable housing price, nearly half of the people in Beijing and Shenzhen do not have any plan to buy a house recently. The rapid growth of housing price has been caused mainly by the housing shortage, said Zhu Zhongyi, deputy chairman of the China Real Estate Association when he attended the News Briefing on the Beijing Real Estate Market Research Report for the First Half of the Year.
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