China's housing among world's highest
By Tu Lei (chinadaily.com.cn)
Updated: 2008-03-05 16:26
Some experts believe Chinese housing prices are still the highest globally, despite major cities reporting sluggish real estate sales recently, according to a report from today's International Finance News that compared prices here with those in New York and Tokyo.
Although New York's realty market may not have been as seriously hit the by the sub prime crisis as others, slow GDP growth in the United States has threatened the performance of Wall Street, and reduced demand for realty.
Li Xihuan, a consulting bank analyst from Dealogic in the United States, said, "The average price of an apartment in Manhattan was $1.4 million in the fourth quarter of last year, up 17.6 percent year on year."
But that average was boosted by high-end apartment sales: three times as many apartments priced over $10 million sold last year than in 2006.
posted on 2008-03-07 00:15
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