(ECNS) -- Residential property prices on the Chinese mainland saw an increase of 21.6 percent in the past year through September, which is the second highest percentage rate of increase among all surveyed markets in the index, National Business Daily reported.
The newspaper cited Knight Frank Global House Price Index, saying that the key emerging markets of Dubai, Chinese mainland and Hong Kong recorded the largest annual rise in mainstream prices, increasing by 28.5 percent, 21.6 percent and 16.1 percent, respectively.
The figures were based on data from the property market in Beijing and Shanghai.
The average price of new houses on sale in the eastern Sixth Ring area surged to 25,000 yuan ($4,100) per square meter, a 66 percent increase.
Li Min, a citizen in Beijing, said the down payment of a two-room apartment in the southern Fourth Ring of Beijing has exceeded one million yuan ($160,000), from 500,000 yuan last year.
The average secondhand housing price in Beijing rose 28.14 percent year-on-year, to 30,752 yuan per square meter in November, according to data from Homelink.
The city said special government-built "self-living" houses are to be available to the public by the end of 2014 as a new measure to stabilize housing prices.
The growth rate will slow down in 2014, said a researcher at Knight Frank's office in Beijing.
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