Shanghai housing prices hit new high in Aug

The average housing price in Shanghai rose to a historical new high in August, according to the National Business Daily. Xue Jianxiong, an analyst from housing consultancy company E-house China , said the average housing price was driven up by the soaring trading volume of luxury apartments. The trading volume of high-end apartments, which have prices higher than 30,000 yuan (91.87) per sq m, accounted for 12 percent of the total, a big increase from the four percent in June last year, a

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