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About US$1.8 billions worth of residential property will go on the market in Beijing in the second half of the year, China Central Television reported Friday.
Developers say there will be nearly 30 thousand apartments available during the period, with a total floor area of about 2.5 million square meters. The average price of these properties will be some 5,700 yuan (US$700) per square meter.
The increase in supply is due to the completion of the latest construction period, and government's release of more land for development.
Figures show Beijing's housing prices have seen just a small increase over last year. With adequate land supply, prices are expected to remain stable in the second half of this year.
(CCTV.com August 5, 2005)
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