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Price of New Housing Up 6% in Major Cities

Prices continued to rise in China's real estate market last month, with Shenzhen, Changsha, Beijing and Guangzhou leading cities in the price hikes, sources with the National Development and Reform Commission said Tuesday.


According to the NDRC data on 70 major cities, new housing was on average six percent more expensive in March month-on-month. The increase rate was 0.1 percentage points higher than the February level.


But in some cities the growth was much quicker.


The cost of new housing surged 10.7 percent on average in Shenzhen, 10.1 percent in Changsha, 9.9 percent in Beijing and 8.6 percent in Guangzhou.


(Xinhua News Agency April 17, 2007)

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