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Housing Prices Rose for 16 Consecutive months; Beijing Had the Highest Increase

Guangming Daily carried an article stating that, according to the statistics published by the China Index Academy, in September 2013, the average increase in housing prices for 100 cities in China was 10,554 yuan (US$1,724) per square meter, up 1.07 percent from August. According to the article, this was 16th consecutive month that saw an increase. The average increase in 10 large cities, including Beijing and Shanghai, was 18,179 yuan (US$2,930) per square meter, up 13 percent compared to the same period last year. The article stated that, of those 10 cities, Beijing had the highest increase. It also pointed out that, while the housing prices for the first tier cities kept increasing, the prices in third and fourth tier cities have  remained relatively stable and are not expected to see much fluctuation in the future..

Source: Guangming Daily, October 2, 2013