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More new houses to curb rising Shanghai housing prices
(chinadaily.com.cn)
Updated: 2009-08-28 10:35 Shanghai is increasing construction of commercial housing to help lower rising housing prices after they reached a new peak in July, the website of China News Service reported Thursday.
In most of Shanghai and its suburban areas, citizens must spend at least 10,000 yuan ($1,471) to purchase a single square meter of commercial housing. Yu Zhengsheng, the CPC party chief of Shanghai told the media recently that he thinks the housing price is too high and the government is considering pushing "more house building" to solve the problem. |