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Thread: Seven sins for skyrocketing house price in Beijing

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[quote=KEVIN0518,238067]In May 2007, the house price in Beijing increased 10.3% compared with the same period last year. Beijing is one of the three cities where the house price rises the most rapidly.

China has begun investing the real estate market to find the reasons why the house price rises so rapidly. However, the investigation is still being carried on. Now let's see the seven sins for the skyrocketing house price in Beijing found by the media.

No.1 The developpers hold the houses and do not sell them. They are waiting for the higher price. They still believe that the price will continue to rise. Beijing Olympic Games is a oppotunity for those developpers. Some of them say that the house price continues to rise when the Olympic Games is coming.

No.2 The land is limited. More and more lands have been developed into commercial houses. There are less and less land can be developed.

No.3 People become crazy. More and more people want to buy their house. To some extent, they are not reasonable and 'help' raise the house price.[/quote]

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