Source: CCTV.com

11-16-2007 10:40

The All China Federation of Industry and Commerce (ACFIC) says the country's property price may grow slower in 4th quarter.

According to a report released by the ACFIC recently, that China's housing price surged dramatically in the third quarter this year. The report shows, average land prices in China's 70 large and medium-sized jumped 15 percent in third quarter year on year, while land price for residential housing surged over 16 percent. The average sales price in those cities also surged over 8 percent year on year, nearly 2 percent higher from the second quarter.

It predicts the country's housing sale price may continue to grow in the fourth quarter, but the growth rate will slow down from the previous season. It says the reason is likely due to recent government policies which are squeezing bank lending, and more and more people are turning to more affordable housing.

 

Editor:Xiong Qu