Property Prices in China Continue to Grow in April Despite Tough Govt Regulations
Girish Shetti | | May 03, 2016 09:50 AM EDT |
(Photo : Getty Images.) The rise in home prices in Shenzhen and Shanghai happened despite the slew of tough regulations the city government announced in March. The Chinese government wants to tame the soaring real estate prices across big cities.
China's home prices continued to rise in April, according to the latest surveys separately conducted by the China Real Estate Index System (CREIS) and Real Estate Information Corporation (CRIC).
The survey showed that prices of new homes in April across 100 cities increased by 9 percent from a year earlier. Prices in big cities such as Shenzhen and Shanghai increased by 14.4 percent from year-on-year.
Like Us on Facebook
Home prices in Shenzhen and Shanghai increased only by 1.5 percent compared to last month March. The real estate prices in these two big cities in March had increased by 12.2 percent, as per CREIS survey.
The rise in home prices in Shenzhen and Shanghai happened despite the slew of tough regulations the city government announced in March. The Chinese government wants to tame the soaring real estate prices across big cities.
According to a separate survey conducted by the CRIC, home prices across 288 biggest cities increased on an average by 7.2 percent in April from year earlier. However, on a monthly basis the average rise in April was only 1.5 percent, faster than 1.2 percent witnessed in March.
In the wake of rising property prices, Chinese authorities have been in pressure to arrest price rise especially in big cities. They feat that unabated price increase would make homes too expensive for ordinary citizens.
Tagschina, Property prices Shanghia, Property Prices in Shenzhen
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?