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Chinese property gaining value
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Overseas property investors who have purchased property in China recently are likely to have seen a gain on their outlay in July, with average prices increasing 5.7 per cent.
Prices in 70 major cities in China rose by this amount – which was down by 0.1 percentage points from June, according to the National Bureau of Statistics.
New commodity housing values increased by 6.7 per cent, an increase of 0.1 percentage points on the month before, China Daily reports.
The city to see the highest rise in prices was Shenzhen, a south China city on the border of Hong Kong, where growth of 13.6 per cent was recorded in new commodity houses.
Beijing saw the second highest degree of inflation, at 11.1 per cent, followed by Hohhot at 9.6 per cent and Guangzhou and Chengdu, both at nine per cent.
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