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Beijing's International Property Expo highlights rising prices

Reporter: Wang Yiqian 丨 CCTV.com

09-23-2016 16:33 BJT

More than 500 developers from around the world are on hand for Beijing's Autumn International Property Expo. The expo is viewed by many as a barometer of China's property market.

The ongoing Beijing international property expo started Thursday and is widely seen as an important indicator for China's property market.

More than 500 domestic and overseas developers attended the event.

The hot market drives property developers to raise their sales prices.

"Now the home prices of our project is around 65,000 yuan per square meter, the one you see below 50,000 was an old price at the Spring property expo. The home prices rose by nearly 30 percent," one developer said.

In addition, the hot demand also triggered increasing prices in Beijing's surrounding areas. Some property projects in Hebei even doubled the price.

"We have already increased our home prices by nearly 40 percent in five months. The home prices now reach nearly 80,000 yuan. That's more than our expectations," another attendee said.

However, the number of international real estate exhibitors has remained the same compared to the spring property expo this year. The average price of overseas properties also remained stable. Analysts say that investors are still taking a wait-and-see sentiment in the overseas market.

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