Jan-Sept Housing Prices up 13 Percent

2004/11/15

China's average commercial housing (properties for lease or rent) price, per square metre, was 2,777 yuan (US$335) during the first nine months this year, up 13 percent year-on-year, according to a November 1 State Statistical Bureau report.

The average housing price for commercial residences (residential properties) was 2,566 yuan (US$309) per square metre, an increase of 10.9 percent.

Under the macro-control policy, property investment amounted to 835.7 billion yuan (about US$100 billion) during the first three quarters, a rise of 28.3 percent.

By the end of September, the empty floor space of commercial housing shrank by 2.3 percent year-on-year to 97.48 million square metres. Vacant commercial residential space decreased by 11.4 percent, but the empty floor space of commercial housing for offices and business went up by 0.1 percent and 20.3 percent.



	Article featured in Business Beijing, November 2004 Publication sponsored by Information Office of the Beijing Municipal Government, Beijing Municipal Bureau of Commerce, Development & Reform Commission of Beijing Municipality, China Council for the Promotion of International Trade (Beijing Sub-Council)