Housing prices in China's 70 major cities rose in the second quarter by 6.3 percent from the same period last year, according to a survey by the National Bureau of Statistics and the National Development and Reform Commission.

 

The survey found Shenzhen, Beihai and Beijing saw the highest price hikes.

 

Between April and June, land right transfers were 13.5 percent higher on average, home rentals went up 2.5 percent, and prices of property management services were up 0.3 percent.

 

The housing price rise in the second quarter was 0.7 percentage points higher than the first quarter, according to the survey. Shenzhen saw a price rise of 14.3 percent, Beihai a rise of 12.5 percent and Beijing 9.5 percent.

 

In the second quarter, the cost of residential land right transfers rose by 16.2 percent, 7.3 percentage points quicker than the first-quarter level, and that of land rights for tourism and entertainment was up 8.9 percent, 12 percentage points higher.

 

(Xinhua News Agency August 14, 2007)