Subscribe free to our newsletters via your
. Military Space News .




POLITICAL ECONOMY
China housing prices fall for second month: survey
by Staff Writers
Shanghai (AFP) June 30, 2014


Housing prices in major Chinese cities fell for a second consecutive month in June, an independent survey showed Monday, providing more evidence of a deflating property bubble.

The average price of a new home in 100 major cities was 10,923 yuan ($1,775) per square metre this month, down 0.50 percent from May, the China Index Academy (CIA) said in a regular monthly survey.

Prices had dropped 0.32 percent month-on-month in May, the first such decline in nearly two years, but the academy said the pace of the fall accelerated in June.

Prices fell in 71 cities and rose in just 29, it said.

China has long sought to contain rising property prices, while also promising to increase the supply of affordable housing, as surging costs stoke discontent among ordinary citizens unable to afford new homes.

Market control measures have included restrictions on purchases of second and third homes, higher minimum down-payments and taxes in some cities on multiple and non-locally owned homes.

At the same time, local governments which make much of their income from land sales to developers have sought to find ways to loosen restrictions when property prices have fallen.

Last week, the city of Hohhot in the northern region of Inner Mongolia appeared to drop limits on the purchase of second homes by saying it would not require information on buyers' previous transactions, but quickly scrapped the change after media reports.

Hohhot's home prices rose 0.86 percent in June from a month earlier to an average 7,064 yuan per square metre, making it one of the top 10 performers among 100 cities, according to the survey.

On a year-on-year basis, prices in the surveyed cities rose 6.48 percent in June, 1.36 percentage points less than the annual rise in May and the sixth month of shrinking annual increases, it added.

Of China's 10 biggest cities, only commercial hub Shanghai recorded a month-on-month increase in July with the average price rising 0.25 percent to 32,469 yuan per square metre, it said.

Capital Beijing fell 0.61 percent to 33,269 yuan per square metre in June, but remained the most expensive city, the survey showed.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








POLITICAL ECONOMY
Former top China official charged with bribery
Beijing (AFP) June 23, 2014
China's wide-ranging crackdown on corruption has snared its highest-ranking official so far, a former senior economic planning officer who will face criminal charges after authorities charged him with bribery on Monday. Liu Tienan fell from grace after allegations about illegal activities first surfaced from a prominent journalist two years ago. The former deputy director of the National ... read more


POLITICAL ECONOMY
Lockheed Martin To Build Next Two SBIRS Missile Defense Satellites

US missile defense system strikes target in test

Poland and Raytheon Partner to Develop New Patriot IFF Antenna

U.S., Polish companies to improve radar of Patriot missile defense system

POLITICAL ECONOMY
Northrop producing more missile counter-measure systems for Air Force

DAGR and Hellfire 2 Score Direct Hits During Ground-Vehicle Tests

Britain eyes Brimstone 2 missiles for Typhoon fighters

N. Korea cruise missile fuels proliferation concerns

POLITICAL ECONOMY
US drone strikes set 'dangerous precedent': study

Royal Navy using UAV from a destroyer in Gulf

Fire Scout's Visual Reach Increased With New Radar

Rockwell Collins, NASA look at use of UAS in airspace

POLITICAL ECONOMY
Thales enhancing communications of EU peacekeepers

Exelis enhancing communications for NATO country

Chemring integrates new system with Resolve

Northrop Grumman Receives Funding for Electronic Warfare Systems for US Army and Navy

POLITICAL ECONOMY
GenDyn raises curtain on vehicle prototype

U.S. Army issues urgent order for thermal weapon sight display modules

'Too fat to fight': thousands of British soldiers overweight

Upgrade for Philippine armored personnel carriers

POLITICAL ECONOMY
India to speed up defence procurement: minister

Denel PMP expects growth in ammunition production

French arms exports to top 7 bn euros in 2014: minister

State Department approves $241 million arms sale to Brazil

POLITICAL ECONOMY
China's Xi calls for stronger frontier defences: Xinhua

US, Philippines start naval drills near China-claimed waters

Peres meets Obama on farewell trip to Washington

At navy drills US and China try to forge relationship

POLITICAL ECONOMY
A smashing new look at nanoribbons

Scientists Develop Force Sensor from Carbon Nanotubes

Nanoscale composites improve MRI

DNA-Linked Nanoparticles Form Switchable "Thin Films" on a Liquid Surface




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.