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China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

The average price of Beijing villas increased 10 per cent to 37,783 yuan per square metre, while total sales hit 91.2 billion yuan, more than twice the number in 2015. Photo: David Hartung

Beijing villa sales hit record levels despite ongoing smog

Beijing’s ongoing serious air problems have failed to dampen its residents ongoing appetite for buying luxury houses in the city, as latest research shows a record 8,050 villas were sold in the capital city last year – a 119 per cent year on year jump.