China Travel & Tourism News
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House Prices to Maintain Robust Growth
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| 9-May-2005 - China Radio International |
The Chinese National Bureau of Statistics predicts housing prices in the second half of this year will continue to grow quickly despite a rise in mortgage loans rates.
Related Event: Housing Market "Bubble"
The bureau attributes the price hike to a red-hot real estate market.
Low interest rates and the low land prices across China have led to large profit margins for real estate developers, attracting a great number of speculators.
Meanwhile, prices for commercial real estate in China during the first quarter this year rose by 12.5 percent, well over the 6.7 percent jump during the same period last year.
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| 9-May-2005 - China Radio International |
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