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��Home>>Business
Housing price keeps soaring in Beijing
www.chinanews.cn 2007-04-14 15:03:07
Chinanews, Beijing, April 14 - According to a report by the Market News,
there is a great oversupply of commercial houses in Beijing at present.
Though the houses available in the market can meet the needs all through
2007, their price still keeps rising sharply. Nowadays, it is very
difficult to find houses cheaper than 8,000 yuan per sq m inside the
Fifth Ring Road.
Though the central government have composed a series of regulations to
control the housing price in Beijing, all of them have proved to be
ineffective at all. In last January and February, housing price in
Beijing leapt by nearly 10%.
Actually, the housing market is not that hot as it appears. In the first
two months of this year, only 9,935 and 5,372 houses were sold
respectively, while the figures in 2006 were 13,181 and 9,465
respectively. Obviously, demand does not exceed supply in Beijing's
property market.
"Unreasonable housing prices should definitely be blamed for the drop of
housing market in Beijing," said an expert. "The number of houses sold,
and their coverage are both dropping fiercely."
Take Dongcheng District as an example, where the average price for
ordinary commercial residences is some 21,600 yuan per sq m, but the
average disposable annual income of each resident here is only 20,665
yuan.
"I believe that the government should enhance the exercising of new
regulations to control housing price," said Wang Yumei, a professor of
China University of Political Science and Law.
Another expert think that people with invested-interest in the
overheating housing market are spreading fake information to misguide the
general public and to resist the regulations of the government.
��Housing price in big cities keeps rising
��70% of Beijingers believe housing price will keep rising
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