Date
19 October 2017

China misses property price control target, CNS says

China missed its 2013 property price control target, with prices in first-tier cities rising over 15 percent on average last year, the China News Service reported Thursday, citing Hu Jinghui, deputy president of property agent 5i5j. China unveiled new measures to rein in soaring home prices on Feb. 20, 2013, but a year later the cost of housing in most top cities continues to increase faster than residents’ per capita income, it said. The main cause has been a shortage of property supply in first-tier cities like Beijing, according to the report.

– Contact HKEJ at [email protected]

KZ/AC/SK

 

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