Pilot Program to Release Housing Statistics to Property Buyers

Pilot Program to Release Housing Statistics to Property BuyersShenzhen property buyers will be getting more useful information as the city is planning to pilot a release of home prices statistics in different parts of the city. The move is part of the initiative that will guide similar pilot programs across the country.

The National Bureau of Statistics in Shenzhen announced that for the first time average market value housing prices in Jingtian area in Futian, one of the pilot areas will be updated monthly while data for other areas are forthcoming. These data examines prices of any newly built housing and pre owned homes in order to create average prices for these homes considering flat type, building history, floor area, ceiling height and other factors.

Current data on housing prices in major cities in the country only accounts for housing price index and transaction prices for buying new homes.  The housing price index is not considered as a reflection of the market price or the number of new homes transactions a reflection of the market demand for pre owned housing. Buyers need a more informative pricing date that will eventually help them in purchasing homes.

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