House Price to Income Ratio Exceeds 50 in Beijing
Published:
2010-04-22
Wang Jun, a researcher at the China Center for International Economic Exchanges (CCIEE), a government think-tank that works under the supervision of the NDRC, said the ratio of the median price of housing to average income in China is more than 15. In large cities like Beijing, Shanghai and Guangzhou, the indicator has exceeded over 50 and a serious housing bubble exists in these cities.
Source
China News Service
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