Sanya, Hainan 4th in China for house prices

The property market showed strong signs of recovery in the second quarter, as sales price and volume surged in 30 sample cities

Property prices and transaction volumes in four tier 1 cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, reached a five-year high, according to data from E-house China R&D Institute.

Despite being a traditionally slack season, average home prices in 100 cities rose by 0.54 percent month-on-month in July to 10,685 yuan ($1,715) per square meter, the China Index Academy, a research unit of SouFun Holdings Ltd, said in a report.

Shenzhen led the nation with a 9.73 percent month-on-month advance, even faster than the 6.58 percent growth in June.

Here’s a list of the top 10 Chinese cities with highest average property price compiled by Soufun.

10. Nanjing

Average price: 13,877 yuan per square meter

9. Wenzhou

Average price: 14,870 yuan per square meter

8. Fuzhou

Average price: 15,569 yuan per square meter

7. Hangzhou

Average price: 18,208 yuan per square meter

6. Guangzhou

Average price: 18,484 yuan per square meter

5. Xiamen

Average price: 18,747 yuan per square meter

4. Sanya

Average price: 25,046 yuan per square meter

3. Shenzhen

Average price: 30,615 yuan per square meter

2. Shanghai

Average price: 31,670 yuan per square meter

1. Beijing

Average price: 32,131 yuan per square meter

This story originally ran in the China Daily, you can get the original story here Follow us on tropicalhainan,com