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  • tshih_90630 tshih_90630 Jul 19, 2010 7:12 AM Flag

    China housing bubble

    Buy a house in Beijing?

    China's official media reported that an ordinary apartment price in Beijing is 22 times the average annual salary.

    China Daily cited an independent report said that in Beijing, a 90 square meters (810 SQ FT) apartment, cost 1.6 million yuan last year (about USD 220K).

    These figures were compared with those of last year's disposable income per household resident 71,000 yuan.

    Reported that the government-sponsored low-cost housing can not meet demand, government should increase the land supply to meet the needs of low-cost housing.

    Chinese officials made a number of measures in recent months, mainly to prevent overheating in the real estate market led to a bubble. The housing bubble will hurt the world's third largest economy.

    Official statistics show China's real estate prices in June compared to last month, down 0.1 percentage points. This is the first decline since the first quarter of 2009.

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