Current situation of Beijing's housing prices

The China Real Estate Index System saw 19 out of its 35 monitored Chinese cities witness an increase in residential property floor space sales last week. The increase was mainly led by Hangzhou, and Dalian. Harbin was ranked No.1 in terms of declining home sales.

The city sold 50 percent less apartment space compared to the previous week. Average housing sales price in Beijing dropped slightly from a week ago. But the number was still 7 percent higher compared to February's weekly average.

Industry insiders say, during the first 2 months of the year, real estate investment in the Chinese city surged a lot. This is mainly because many funds have flowed into the property sector, while developers are also not short of cash these days.