CHINA / National
China Feb house prices rise 5.5%
(Reuters)
Updated: 2006-03-29 15:54
China's urban property prices rose 5.5 percent in February from a year
earlier, the same as the previous month's annual rise, official figures
showed on Wednesday.
New residential buildings are erected along Maoming Road in Shanghai,
which is on the list of five cities that recorded the biggest drop in
housing prices last month. [Shanghai Daily]
Average property prices across 70 cities edged up 0.7 percent in February
from the previous month, the National Development and Reform Commission
said in a report on its Web site (www.ndrc.gov.cn).
Prices for newly constructed residential properties climbed 6.2 percent
in February from a year earlier, down 0.7 percentage point from the
previous month's annual rate, it said.
The gains were strongest in northeastern Dalian, Hohhot in Inner Mongolia
and Southern Shenzhen where prices rose an annual 15.1 percent, 14.9
percent and 11.3 percent respectively.
Prices for second-hand residential properties increased 5.4 percent
across the 70 cities, up 0.1 percentage point from January's annual rate.
China took a slew of steps last year to try to put the brakes on property
inflation and cool speculative demand for real estate, including the
requirement for higher downpayments and a 5.5 percent capital gains tax
on homes resold within a short period.
Real estate investment in the first two months of 2006 grew 19.7 percent
from a year earlier, the National Bureau of Statistics said earlier this
month.
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