Property prices in Chinese cities are overestimated by an average of 30%, published on Thursday, local media experts' assessments of the Chinese Academy of Social Sciences.
Based on the analysis of data from 35 large and medium cities of China, experts have concluded that real estate prices are inflated by an average of 29.5%. In five cities per square meter of housing request by 50% more than its real value. In 11 out of 35 examined localities apartments are sold for 30-50% more expensive than its real value.
According to the Chinese Academy of Social Sciences, the national average house prices in 2009 increased by 25%. This year, thanks to a series of government measures, growth slowed to 15%. Experts predict that next year growth may continue.