(MENAFN) China is still witnessing a rapid rise in home prices in most larger Chinese cities, but may have peaked in the high-flying southern city of Shenzhen.
In detail, prices of new homes in 100 cities rose 12.39 per cent in July from a year ago, faster than the pace in June, research firm China Index Academy said.
Moreover, the average home price was 12,009 yuan ($1,807) per square metre in July across the 100 cities, up 1.63 per cent from the previous month.
But in Shenzhen, where the cost of homes has risen the fastest in the country this year, prices peaked at $10,509.03 per square metre in the first week of the month.
In fact, they suggest that misplaced self-confidence is putting millions of people at risk. They are vulnerable to major missteps - and to exploitation by industry pros who may not have their best interests at heart.
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