71,022 yuan/sqm: New home prices in Xiamen hit record high

Updated: 21 Feb 2014
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Wanke Mid-Lake Island Housing Estate
Following a flying start to 2014, house prices have surged to an historic high as the property market in Xiamen has continued to enjoy a boom.

Recently, the new home price of Wanke Mid-Lake Island Housing Estate, which is located at the junction of the Siming and Huli districts, hit a whopping 71,022 yuan/sqm, a price far beyond earlier market expectations.

"It's the most expensive house ever sold in Xiamen. And the price of many houses in the housing estate have surpassed 50,000 yuan/sqm,” a staff member in the company said.

"The excellent position is the main reason for the high housing price. Most of our customers are from Jinjiang, Shishi and Nan’an in Quanzhou. A businessman from Jinjiang has even bought 8 houses.”

According to the average housing prices of Chinese cities in January, released by the national real estate market information center, Xiamen ranks 4th among Chinese top 100 cities with the highest housing prices in January.

According to the latest statistics released by the Xiamen Statistical Bureau, 5,141 residential houses were sold in January. The average housing price in the city increased to 21,741 yuan/sqm while transaction volume stood at 609,700 square meters in the month, hitting a 10-month high.
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