Latest figures show the selling prices of nearly one hundred buildings in Beijing have climbed by more than 1,000 yuan (US$132.06) since May, especially in eastern and northern districts, according to today's The Beijing News.
In the eastern area, houses in the Oceanwide International Residential District were sold at 17,000 yuan per square meter this May, but the average price soared to more than 20,000 yuan in July. Buildings developed by BBMG Group and Vanke also saw a growth rate of 1,000 yuan, to 13,000 yuan and 17,000 yuan respectively.
In the southern area, most of the buildings' growth rates are not so high, but selling prices in Fuli, a property project, increased to 11,000 yuan from 8,000 yuan in May. Jianbang Mansion houses sold at 14,800 yuan, up from 13,000 yuan, while the price of Flower City houses also increased to 11,000 yuan from 9,300 yuan.
In the western area, third stage houses at Ocean Landscape were selling at an average price of 10,337 yuan per square meter as of July 31 of 2007.
The northern area of Beijing witnessed soaring prices in April of this year. In May, the price of Shimao Olive Garden was 18,000 yuan per square meter, while the average price of Building No.6 reached 27,000 yuan.
The C3 building of La Foret, near Olympic Forest Park has risen to 120,000 yuan per square meter, and the C2 building reached 14,000 yuan, while the D9 building from Dreamworld 2008 is now selling at 25,000 yuan per square meter on average.
(China Daily August 6, 2007)