The National Bureau of Statistics says unsold housing properties nationwide have increased by about 6 percent at the end of June. But the agency has withheld the vacancy rate.
The number of unsold housing around China has been on rise since 2005. In 2005, the figure stood at around 147 million square meters, growing by about 3 percent year-on-year. But in 2006 and 2007, annual growth rates were negative, down respectively by 1 percent and 7 percent. In 2008, the rate saw a jump of almost 40 percent due to the previous year's low base. In 2009 growth was moderate at 7 percent.
A close source says the vacancy rate released by the bureau isn't in line with market expectations.