PanAsianBiz

Housing Prices Up in 70 Chinese Cities

by BBelew57 on November 1st, 2006

Compared to last year housing prices were up 6.3% overall on a survey taken in September of 70 major Chinese cities.

However, prices were down almost 1% from August.

China’s National Development and Reform Commission and the National Bureau of Statistics released data on newly-builty housing.

Xiamen saw prices rise 11.4%.

Shenzhen prices were up 10.6%.

Beijing prices are up 10.3%.

Fuzhou - 10%, Chengdu - 8.7% and Guangzhou - 8.7%.

Shanghai prices dropped 2.3%.

From July-September prices for the same 70 cities were up 6.7% over the same period last year. Shenzhen was top with a 12.3% rise in prices.

My wife and I own an apartment/house in Shenzhen. Her parents lived there for many years but decided to move back to their hometown. (They left yesterday.)

We had planned to sell the unit until we learned that the value of the house was going up by 10% or more per year. Needless to say, we are hanging on to it for now.

Is that a good idea?

What do you think?

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POSTED IN: Business in China, China Business, Chinese Market, Doing Business in China, china