Experts warn of overheating housing market - Xinhua News Agency

From Xinhua News Agency (link):

China’s property market is in danger of overheating, experts have warned, after figures showed more than 17 percent of disposable income was spent on housing in 2005.

Ministry of Construction figures showed consumers spent 1.42 trillion yuan (177.5 billion US dollars) in buying homes last year.

The National Bureau of Statistics (NBS) said retail sales of consumer goods in 2005 was 6.72 trillion yuan and disposable income was 8.32 trillion yuan, indicating that more than 20 percent of retail consumption and 17.07 percent of the disposable income was spent on housing.



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