New house prices fall in Fujian
The cities of Fuzhou and Xiamen both saw the price of new housing drop, in February, according the China Index Academy.
Figures showed the cost of new housing in Fuzhou at 13,516 yuan ($2,161) per square meter, down 1.9 percent from January and 12.6 percent from a year ago, with the 1.9 percent month-on-month decline ranking 5th out of 100 cities.
Xiamen saw new home prices also dropping 1.26 percent, from 21,421 yuan/sq–m in January to 21,152 yuan, but over in Quanzhou, the price was up 0.37 percent, from January to 7,819 yuan.
Average new home prices in teh country were 10,539 yuan/sq-m in February, down 0.24 percent, from January.
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.