![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]()
Beijing, Sept 14, 2006 Chinese housing prices eased slightly in August from July, suggesting the government's efforts to rein in the real estate market may be taking effect, state media said Thursday. The average price of new housing units rose 5.5 percent in August compared with a year earlier, down from 5.8 percent in July, the China Daily said, citing government data. "The central government's new housing policies, adopted in May, may be working, albeit slowly," the newspaper said, citing unnamed industry observers. The housing figures, published by the National Development and Reform Commission, the nation's top planner, and the National Bureau of Statistics, were based on data compiled in 70 major Chinese cities. The release of the figures coincided with the publication of a central bank survey of 20,000 urban customers, showing "a continuous decline in enthusiasm in housing purchases," the newspaper said. China has worked hard to cool the property market, hoping to prevent a potentially devastating speculative bubble. It has increased the down-payment for large new apartments to 30 percent of the unit price from 20 percent and has imposed a transaction tax on owners who resell their units within five years of purchase, up from two years before. But no matter what the government does, it cannot escape the fact that there is huge pent-up demand for housing. In the years from 1949 to 1989, China's housing supply increased just 40 percent, whereas the population more than doubled from 400 million to one billion, the China Daily said. The country is still in bad need of affordable housing for lower-income people, Yan Jinming, a professor of land management at Beijing's People's University, told the newspaper. Community Email This Article Comment On This Article Related Links China News From SinoDaily.com China News from SinoDaily.com
![]() ![]() The US House of Representatives passed a bill Wednesday to award the Dalai Lama, Tibet's exiled leader, the Congressional Gold Medal, the highest US civilian honor. |
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |