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6 Months for RMB 8.1 Billion Bargain in Tianjin Housing Market

July 19, 2002(Enorth.com.cn)¡ªIn last 6 months in 2002, total 4.01 million sq-m of houses and buildings are sold with RMB 8.1 billion. According to resources, the average price of Tianjin commercial house is RMB 2,557/sq-m, rising 5.6% than last year. Some professionals believe that the rising of the price due to the higher income of Tianjin people.

However, the data from Tianjin House management Department shows that the houses lower than RMB 2,000/sq-m are still the favorite of buyers. Price is still the top factor of buyers¡¯choose. Here is some statistic number: houses at 2,000/sq-m are sold 835,785 sq m, houses at 2,000--2,500/sq-m sold 584,440 sq-m, houses at 3,000¡ª3,500/sq-m sold 255,492, houses at 3,500¡ª4,000/sq-m sold 145,057 sq-m and houses above 4,000/sq-m sold 210,147 sq-m.

At present, the average residence area of Tianjin people is 17.2 sq-m. And the aim of¡°Tenth 5-year Plan¡±is up to 21.5 sq-m. With the promotion of residence currency distribution and increasing of people¡¯s income, more and more people demand to improve their living condition not simply need a house. This will become the main force to pull the real estate market of Tianjin.