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Metro in Wenjiang boosts the housing market

The second-stage construction of Chengdu's Metro Line 4 is endowing Wenjiang with advantages. It will take less than half an hour after its completion to reach Tianfu Square, the center of Chengdu city, from Wenjiang. The transportation convenience is attracting more people to settle in Wenjiang. The housing market, consequently, is also being affected by the metro.

Today, the home price around the 3rd Ring Road in Chengdu has exceeded 8000 yuan ($1,300) per square meter, which is too much for ordinary working class people. Wenjiang has become the preferred place for them for its lower prices, good natural environment and amenities, and the impending transportation convenience.

Home prices in Wenjiang have experienced a slight increase in the last three years. When the construction of Metro Line 4 was just decided in 2012, the average home price along the metro line was 5,100 yuan per sq m. In the first half of 2014, the price was 5,500, a 5.9% increase. Houses lying closer to the metro stations are more costly.

The construction of Metro Line 4 is boosting home sales in Wenjiang, and giving rise to a population growth of outsiders. In the last three years, the houses that are near the metro stations (less than 15 minutes by foot) have been mainly bought by non-locals, accounting for 83%. More people will live and work here, which will definitely stimulate the development of Wenjiang in all aspects.

By Shi Zihan and edited by Brian Salter