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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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