Housing prices rise in 70 cities
24 July 2007
Housing prices in 70 large and medium-sized cities in China continued to rise in June, up 7.1% over the same period last year, according to CCTV (in Chinese). Last month, the price of new residential property was up 7.4% year-on-year, according to figures released yesterday by the National Development and Reform Commission (NDRC) in cooperation with the National Bureau of Statistics (NBS). The price of government-supplied low-cost housing rose 1.4% while premium residential property went up 8.5%. Beihai, Shenzhen, Nanjing, Beijing and Shijiazhuang reported higher than average price hikes, the commission said. Beihai's prices went up 15.5% while Shenzhen was up 13.9%.