Shanghai property prices to keep climbing

Shanghai property prices are expected to keep climbing, according to a new report from Knight Frank.

The Chinese city’s property market has been subject to a raft of recent measures designed to cool down growth amid concerns that rising house prices could spark a property bubble. Despite the government’s actions, though, the average sales price is predicted to keep growing as a result of new project launches. There is, however, evidence that transactions are starting to slow down.

Sales of residential property worth over RMB100,000 fell 27 per cent in the third quarter compared to the second quarter of 2013.

Source: Property Wire