Home Sales Hits Highest Mark in Two Years

Home Sales Hits Highest Mark in Two YearsHome sales around china have risen in November and is said to be the highest in the monthly value in two years even when the local government have announced measures that is meant to curb the rising prices. home values rose 19 percent or to 720 billion yuan last month the highest amount since December of 2011 and from 604 billion yuan in October.

Based on the report of the National Bureau of Statistics the difference for the first 11 months of housing sales surged 31 percent compared to one year earlier which hit 5.9 trillion yuan. While no other additional measures were implemented nationwide by Premier Li Keqiang that is aimed to rein in the property prices since Wen Jiabao has stepped up the three year campaign in 13 cities to tighten property policies. Three of the four major cities in China have already raised its minimum down payment requirements for all second home mortgages to 60 percent down from the previous 70 percent

In November the new home prices have increased most of the year and gained more than ten percent or at 10,758 yuan per square meter year on year as reported by the nation’s largest real estate  website SouFun Holdings.

Comments are closed

The Contributor

Follow me on twitter: TriaSasin

    Connect with Jasmin:
  1. - Email: Click here

Have Your Say!

Which part of Shenzhen has the best quality of life for foreigners?

View Results

Loading ... Loading ...

  1. Etienne Ducrot: Hi, I’m interested to contact this Foundation. Do you know how? Thanks. Etienne
  2. Emma: Hi Jasmin, I’ve read your article about a new medical center opens in Nanshan at the end of this month....
  3. sherry lee: A simple story with great words…I love it.
  4. Evangeline: Awesome piece!
  5. Glenda: Hi there, I enjoy reading through your article post. I wanted to write a little comment to support you.