Property Markets in Top Tier Cities Continue to Sizzle in July

(Beijing) – Property markets in the top four metropolises – Beijing, Shanghai, Guangzhou and Shenzhen – saw vigorous activity in the third week of July, while demand for homes in smaller cities remained lukewarm, real estate agents say.

House prices in the capital rose 17 percent to 41,128 yuan per square meter in the week from July 18 to 24 compared to the second week of the month, fueled by a demand for luxury villas, data released July 25 by Lianjia Real Estate Agency, a top brokerage firm in the country, showed.