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Home prices surge again in JulyPublished: 10 Aug 2009 08:02:01 PSTBy Li Qiaoyi Home prices across China went up again in July, according to data published today by the National Bureau of Statistics (NBS).The report, published on the NBS website, showed that home prices in 70 large- and medium-sized cities went up 1.0 percent in July, compared to the same month last year.Prices increased 0.2 percent in June over the same month in 2008 and 0.9 percent from June to July.The growth rate increased 0.1 percentage point from May to June.Prices for both new homes and second-hand homes have seen rapid growth. New home prices in July went up 0.3 percent year-on-year and 1.1 percent month-to-month.At the same time, second-hand home prices in July rose 3.0 percent year-on-year and 0.9 percent month-to-month, said NBS.The upswing in the market is forcing some to speed up plans of buying a home.A young woman surnamed Su, an advertising copywriter in Shanghai, wants to buy a home with her boyfriend. The changing prices are making her worried.“Home prices are crazy and unreasonable for ordinary home buyers at the moment,” she said.She and her boyfriend make a combined 10,000 yuan ($1,462) a month after taxes.Since prices are likely to go up even more, they don’t plan to wait for prices to go down.Funds injected into real estate between January and July reached 1.77 trillion yuan ($259.1 billion), up 11.6 percent from a year earlier.Meanwhile, 417.55 million square meters of commodity houses were sold for the first seven months, with the sales volume up 37.1 percent on the previous year, NBS said.The price increases in large-and medium-sized cities, where the population density is at a relatively high level compared to small cities, is mainly due to increasing demand for homes, said Ding Yun, a professor at the Capital University of Economics and Business.Demand for homes was spurred by the current relaxed monetary policy, which loosened restraints on mortgage loans, lowered loan interest, and reduced or remit taxes, Yin Kunhua, president of the Shanghai Weston Real Estate Management Institute, told the Global Times.Individual mortgage loans reached 362.8 billion yuan ($53.08 billion) from January to July, up 78.9 percent from the previous year, said NBS.Yin further pointed out that there is an insufficient supply of land, which together with increasing demand, led to the current surge in home prices. Explore the World, Understand China!Please log on http://www.gloaltimes.cnro rmt uv机 ドラゴニカ rmt rta kitchen cabinets elevator manufacturer