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Beijing's new house prices rise 20% in June

By Hao Zhou (chinadaily.com.cn)
Updated: 2007-07-05 16:24

Beijing's new housing projects opened at an average price of 10,280 yuan (US$1,353) per square meter in June, up 20.4 percent from a month earlier, according to statistics from the Beijing Municipal Construction Committee.

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According to some insiders, only six of the total 24 newly opened common housing properties are scattered around Beijing's outskirts, and the other 18 are concentrated in Beijing downtown, which is the major reason for the average price hike.

Figures from Golden Keys, an influential real estate marketing group in China, showed the average housing price was 11,528 yuan per square meter last month, an increase of 11.5 percent from May, and a 33.2 percent rise compared with the same period last year. Its results factored in the prices of ordinary commercial houses, apartments, and villas.

Last month, in the eight downtown districts of Beijing, the average housing price of each of the newly opened building projects exceeded 10,000 yuan per square meter. Fengtai District was the lowest with 10,513 yuan per square meter.