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China's housing market recovers
(chinadaily.com.cn)
Updated: 2009-07-07 18:06

The Chinese housing market has rebounded to what it was two years ago, the Xinhuanet.com reported today, citing latest data.

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According to the China Index Research Institute, the housing markets in major cities of the country has witnessed a strong rebound of demand over the past six months, with more active transactions.

Beijing, Tianjin, Chongqing, Wuhan and Hanghzou showed a 100-percent year-on-year jump in the rate of transactions. In Shenzhen, the figure exceeds 150 percent, according to the data.

It is believed that falling housing costs last year and added financial support to personal loans are two reasons for the boost in the market.