Others News
- Property prices surged 5.4 percent in April
Date: 28-May-2007 Sources: (Shenzhen Daily)
PROPERTY prices in China rose 5.4 percent in April from the same month last year, slowing slightly from March's 5.9 percent rise, data issued Friday by the country's economic planning agency show.
The government has taken a series of measures to cool China's property sector, on concerns that rising prices and a focus on luxury developments are pricing ordinary citizens out of the market in big cities.
Some major cities continued to post outsized gains in April, with residential property rising 12.8 percent in Shenzhen and 9.4 percent in Beijing. Residential property prices rose 12.6 percent in Shenzhen and 9.0 percent in Beijing in the first quarter.
Shanghai residential property prices rose 0.6 percent year on year in April, compared with 0.2 percent in the first quarter.
Countrywide, prices for newly built homes rose 5.3 percent in April from a year earlier, while pre-owned homes prices rose 6.1 percent.
The National Development and Reform Commission compiles data from an index of house prices in 70 of China's large and medium-sized cities.
Sponsor Results:
