The growth rate in Shanghai housing prices slowed to 9.2 percent in 2005. Housing prices grew less rapidly in Shanghai in 2005, slipping from a growth rate of 19.9 percent in the first quarter to 12.4 percent in the third quarter. The overall growth rate for the year is forecasted to be 9.2 percent. Last year's municipal government work report said that the government would emphasize building more affordable houses so as to spur consumption. The city also issued a regulation last March saying that houses sold within a year of purchase will be taxed. Statistics show that affordable houses represent more than 75 percent of all houses sold in Shanghai in 2005.
(Source: Xinhua, 2006-01-17) |
