Home prices in Hangzhou are the highest in China, with an average home costing of 25,840 yuan psm, while Beijing ranked second, with an average home price of 22,310 yuan psm.
This was followed by Shanghai, which recorded a decline in home prices to 19,168 yuan psm, according to the Property Price List of Chinese Cities in 2010, released by Hangzhou city.
The list, which covers 110 sample cities, showed that home prices in the first half of last year maintained a rapid growth momentum, with an average home price of China’s top 20 cities exceeding 8500 yuan psm.