New Home Prices in Chinese Cities Have Increased.
In August, residential property prices in major Chinese cities skyrocketed, perhaps triggering more government involvement to prevent a housing bubble. adhunters According to recent data from the National Bureau of Statistics, new property prices grew in 69 of 70 Chinese cities in August compared to the previous year. New property prices grew in 66 of the 70 Chinese cities tracked by the organisation in comparison to the previous month. The highest rises were in the main cities of Beijing and Shanghai, which each saw a 15% increase over the previous year. New property prices in Shenzhen jumped 18 percent over the previous year. However, there was a significant difference in performance between top-tier cities and lesser cities. According to the survey, annual growth in second-tier cities ranged from 7 to 10%, while rises in third-tier cities were closer to 6%. According to media sources, overall property prices in China climbed by 7.5 percent year over year, the quickest r...