Housing prices to keep rising in China

The China Real Estate Association (CREA) reported on Sunday that housing prices in China may continue to rise in the second half of the year, following the announcement that house prices over the first six months were up 16.34 percent. "The disparity between tight supply and overheating demand pushed the prices up," said Zhu Zhongyi, vice-president of the association, at a recent forum. Due to expectations of further hikes, ordinary consumers are scared into buying a house for fear that they will pay even more if they keep waiting. The growing urban population has also boosted demand.