Shenzhentopilothousingpricereleasesin20areas

From: Shenzhen Daily

Updated: 2013-02-06 14:02

Property buyers in Shenzhen soon will get more useful information, as the city will pilot the release of home price statistics in different areas of the city in an initiative that will spearhead similar pilots across the country.

The Shenzhen branch of the National Bureau of Statistics announced last week, for the first time, average market-value housing prices in the Jingtian area of Futian District, one of the city"s 20 areas for the pilot. Data for other areas is forthcoming and will be updated monthly, bureau officials said.

The data examines prices of newly built housing and pre-owned homes to create average prices that consider building history, flat type, floor area, ceiling height and other factors.

A bureau spokesperson said current data on housing prices in major cities across the country account for only housing price indexes and transaction prices for new homes.

"The housing price index is not a reflection of market price, neither is the number of new home transactions a reflection of market demand for pre-owned housing," the spokesperson said. "More informative housing price data is needed to help potential homebuyers."

The data released for Jingtian detail December prices for homes of different sizes in three types of residential buildings: multi-story, medium-height and high-rises. Prices also are classified according to buildings" construction dates, which are divided into three periods: prior to 1997, between 1998 and 2005, and 2006 or after.

The statistics indicate, for example, that homes of fewer than 90 square meters in medium-height buildings that were built before 1997 cost a relatively low 20,992 yuan (US$3,371) per square meter, while homes of more than 144 square meters in high-rises built after 2006 cost 47,735 yuan per square meter.

Source:Shenzhen Daily