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Rise in prices for new buildings in China accelerates to its six years’ highest

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Rise in prices for new buildings in China accelerates to its six years’ highest

Prices for China’s new buildings grow faster and have reached its highest point in 6 years. At the same time, the number of towns, where an increase in the new buildings’ prices was detected, has grown.


According to the State Statistics Department of China, in August, the rise in prices for new buildings compared with the previous month was registered in 64 out of 70 large Chinese cities. In July, the price surge was detected just in 51 cities.

The average price for a new building in 70 largest cities of the country increased last month by 1,3% compared with July, what is the highest surge since 2010.

Chinese authorities express their disquiet over extremely vigorous growth of the housing market and came up with proposal to restrict financing of real estate, in order to curb the housing market growth.

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