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Ministry of Land and Resources: 2009 Housing Price Soar 25.1%

A Ministry of Land and Resources report issued on April 2 shows that the average housing price in over 100 cities had been rising since 2001, with the exception of 2008 when the average dropped 1.89%. In 2009, the residential housing price stayed as high as 4,474 yuan per square meter ($655), registering an annual growth of 25.1%, the highest rate since 2001. 

The reported figures, based on the land and housing prices in 105 Chinese cities between 2001 and 2009, dwarfed the 1.5% figure published by the National Statistic Bureau, which surveyed 70 medium and large sized cities’ 2009 housing prices. 

Source: Jinghua Times, a Beijing based local newspaper, April 1, 2010