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back to index backCHINAtalk February,  2005


Property prices continue to rise

Property prices in China's 35 large and mid-sized cities rose about 10 percent year on year in the fourth quarter of 2004, the Government said over the weekend.

In the fourth quarter, sale prices on real estate rose 10.8 percent from the same period a year ago and were up 2.2 percent compared to the third quarter, the National Development and Reform Commission (NDRC), China's industry policymaker, said in a statement posted on its Web site.

At the same time, land transaction prices rose 10.0 percent on year in the fourth quarter and were up 1.8 percent compared with the third quarter, the NDRC said.

Worries about over development in China's property sector have been a key driver to prompting the governments's administrative and monetary tightening moves since mid-2003.

China's government has said the macroeconomic measures rolled out so far are taking effect, but that more work remains to be done.

Prices for real estate in the northern coastal city of Qingdao in Shandong Province posted the strongest gain, rising 19.8 percent on year in the October-December period, the NDRC said.

But Shanghai posted the strongest price rise for land transactions, with 18.8 percent growth on year in the fourth quarter, the NDRC said. Shanghai's real estate sale prices rose 10.4 percent in the fourth quarter from a year earlier, based on the NDRC statement.

Meanwhile, rental prices in China's main cities rose a smaller 2 percent on year in the last quarter of 2004, and were up just 0.3 percent compared with the third quarter, the NDRC said. But it added the difference in growth of rental prices from city to city was large.

The 35 cities mostly included the capitals of China's provinces and autonomous regions, and its municipalities.
Source: Shenzhen Daily/Agencies - January 25, 2005 - GAI

For China, Asia, or other real estate needs, please contact Ron Hesse via email at RHesse@GlobalAutoIndustry.com.


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