Month-on-month growth rate of Xiamen's house prices tops nationwide in Dec
Xiamen’s new house prices increased 1.84 percent in December 2014, topping the 100 major cities of China, the National Bureau of Statistics announced on January 1st. Besides, a total of 2,275 newly constructed apartments were sold in Xiamen in the same month.
In December of 2014, the average house prices of newly constructed houses in 100 cities in China declined again, as it has for 8 consecutive years. The house prices in Xiamen, however, were the exception.
In December of 2014, the growth rate of Xiamen’s newly constructed house prices ranked 1st among China’s 100 major cities with a month-on-month increase of 1.84% and 2nd nationwide with a year-on-year increase of 12.27%.
Xiamen’s newly constructed house prices once declined 0.38% month-on-month in November 2014, but the high unit-price of December’s newly constructed houses and the good news that Xiamen was selected as a Free Trade Area in China have pulled the prices up again.
A total of 5,792 newly built commercial houses were sold in Xiamen in December 2014. Among which, 2,775 newly constructed commercial residential houses were sold, up 4.45% compared with November and 640% compared with the amount of 307 apartments last December.
It is notable that it is rare to see more than 2,000 newly built apartments be sold in one month in Xiamen.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.