Regulations cannot curb soaring housing price

时间：2006-12-27 05:20:08

（单词翻译:单击）

Chinanews, Beijing, Dec. 26 – In 2006, Chinese government has issued a series of regulations on lowering high housing price. In spite of government efforts, housing price has kept rising steadily1 in cities like Shenzhen and Beijing. Although Chinese central bank and other financial institutions have constantly warned about the unhealthy state of Chinese real estate market and potential financial risks, the warnings appear ineffective.

 

Statistics show that in November, the average price of newly built commercial houses in China was 5.8% more than last year. In Beijing, the rising rate exceeded 10% for the sixth consecutive2 month. Because of the high housing price, more than 30% of house buyers have become “house slaves” since their housing loans have accounted for over half of their total income. About 100,000 native Beijingers have bought houses in neighboring Hebei Province.

 

Analysts3 say that in China, the ratio of housing to people’s income has far exceeded related international standards. It is usually said that under normal conditions, housing payment should be 3-6 times people’s income. Information from the Japanese Real Estate Research Institute shows that in 1990, when economic bubbles were then the serious in Japan, housing payment was 7-8 times Japanese people’s income and in Hong Kong, housing payment was 11 times that of people’s income level in 1997, when housing price hit the highest point then. In Chinese mainland, however, related information shows that during the third quarter of 2006, housing payment was more than 12 times people’ income.

 

Analysts point out that the housing rental4 fees in Beijing have started to drop. At the same time, some speculators are trying to further push up the housing price. In the next two to three years, Beijing real estate market might enter into the period of readjustment. On December 8, the central bank issued a financial stability report for the year, which, for the first time, warned about the financial risks that could be brought by the dropping housing price.

 
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1 steadily Qukw6     
adv.稳定地；不变地；持续地
参考例句：
  • The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
  • Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。
2 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
3 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
4 rental cBezh     
n.租赁，出租，出租业
参考例句：
  • The yearly rental of her house is 2400 yuan.她这房子年租金是2400元。
  • We can organise car rental from Chicago O'Hare Airport.我们可以安排提供从芝加哥奥黑尔机场出发的租车服务。

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