Society

Survey: 72.5% Chinese say property prices are too high

By Jia Xu (chinadaily.com.cn)
Updated: 2010-06-18 13:45

A survey conducted by People's Bank of China showed that 72.5 percent of Chinese regard property prices as extraordinarily high, breaking the record high of citizens' dissatisfaction with the real estate industry, chinanews.com.cn reported Friday.

On the property price momentum, 29.3 percent of those interviewed said they thought prices would continue to climb. Only 15.5 percent of people interviewed have plans to buy a house in next three months, a drop of 3 percent over the past two consecutive quarters.

The index of price satisfaction of urban residents dropped to 21.7 percent, 4.2 percent lower than the first quarter; among respondents, 58.9 percent said commodity prices were unacceptably high, which became the highest in 10 years.

The survey also showed that 45.7 percent of people are more inclined to save money at the bank; 36.4 percent choose to invest in stocks and bonds; and 18 percent prefer to spend the money.