China's Housing Price Hike

Beijing: land in short supply "The long procedure of land marketing results in the short supply of available land in Beijing," said Liu Weixin, a researcher with the Chinese Academy of Sciences. "And we must keep in mind that land is a limited resource that cannot be supplied infinitely." Furthermore, as the national political and cultural center, a great number of people flood into Beijing annually and fuel the housing market. Many graduates also choose to work and settle down here. "Huge demand and short supply has caused a price hike here," Liu observed.