Survey: Shanghai New Home Prices Up 253% in 7 Years

(Shanghai) -- A non-governmental index shows Shanghai's new home prices shot up by 253 percent in seven years, much higher than official data.

The index, compiled by Fudan University and Shanghai Tospur Property Consulting, tracked price movements of 850,000 new homes over a span from July 2004 to June 2011, according to a jointly-held press conference on August 29.