Hainan property prices skyrocket

Attempt to cool down market may have backfired, agent says

The plan to turn China's tropical southern island of Hainan into an international tourist resort by 2020 has already started nudging property prices skywards, according to media reports.

More than 200 potential property buyers have been pouring into the island every day since the end of last year, when the government unveiled its tourism plan, local media reported.