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Housing prices shot up in Cangzhou city along high speed railway

08-04-2011 15:53 BJT

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The housing market is heating up in Cangzhou city. It is located around 200 kilometers south of Beijing, and is on the newly opened high speed train route between Beijing and Shanghai. That shuttle has not only brought convenience to the city but also an increased interest to its real estate market.

Average housing prices are up close to 20 percent from last year. They are now close to a six-thousand yuan per square meter.

That is still far lower than major cities like Beijing and Shanghai.

But many workers in the area have an average income of less than 17-thousand yuan a year. So they cannot afford a place to live.

A Cangzhou resident said, "I think housing prices are too high in Cangzhou comparing with its GDP. It's unusual."

The newly developed residential and business properties are mostly 20 to 30 storey high rises. Many are within ten kilometers of the high speed train station.

Chai Baoyin, sales manager of a real estate company said, "We now focus on location and convenience in our marketing strategy. Our properties are close to the high speed train, so we talk about how little time it takes to get to Beijing from here."

With the train, it now only takes 50 minutes to get to Beijing from Cangzhou. "An hour from the capital" is the most popular marketing line in the real estate market.

But the city hasn't felt the benefits from the train since it opened just over a month ago. And with relatively high prices for the area, the new buildings aren't selling well.

A Cangzhou resident said, "The opening of the high speed train is a great opportunity for a city like Cangzhou. But right now we can't really see how it's going to affect our lives."

The average GDP in Cangzhou is the fourth highest in Hebei province and lags far behind major cities like Beijing and Shanghai. The opening of the train will help the city with its economic growth. But, it will take time to tell whether there will be another real estate boom.

Editor:Li Wanran |Source: CNTV.CN

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