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Central Bank: Sixty Percent of the Residents Believe the Housing Prices “Unacceptably High”

In the first quarter of 2014, the People’s Bank of China conducted a survey of twenty thousand urban depositors in 50 cities. The results showed that 64.3 percent of the residents believe that current housing prices are "unacceptably high," 33 percent believe that current prices are "acceptable," while only 2.7 percent of the residents believe they are "satisfactory." Within the next three months, 15 percent of residents will be ready to buy a housing unit. This figure is 2.7 percent higher than the previous quarter and 0.2 percent higher than the same period last year.

The report showed that 55.8 percent of residents believe that the general price level is "unacceptably high." 32.6 percent of the population expected the price level to continue to climb, 48.5 percent expected the price level to remain "basically unchanged."

Source: Xinhua, March 22, 2014