Twenty Five Years For a House
Beijing ’s traffic may now be the worst in the world, but natives have long known the capital’s streets aren’t as hard to navigate as its housing.
A study recently released by Beijing University of Technology and the Social Science Academic Press put a number on the frustration: 25. The average Beijing home sells at an extraordinary 25 times the average annual wage.
The international level is much lower. An average apartment in Berlin, for example, only costs residents three times the annual average wage, according to a People’s Daily article. Chicago has an average annual wage of about $70,000, and homes that sell for a median price of roughly $290,000. That’s just over 4 to 1.
而国际上其他国家的房价要低得多。《人民日报》一篇文章中举例说，在柏林，一套公寓的平均售价相当于一个普通人工作三年的工资。芝加哥人均年收入约为70,000 美元，房屋售价中值约为290,000 美元，比例仅约为4 比1。
Housing troubles are not new to fast-growing Beijing, but there was a great deal of hope that the government’s moves in April to cool down the property market would provide some relief.
According to the Beijing Bureau of Statistics, 98% of Beijingers said in May that housing prices were high. The other 2%, apparently, could not be reached at their homes for comment.
June brought the first signs of a reversal for urban housing nationwide, when prices finally began to fall, dipping 0.1%.The hope is that the cooling’s full effects will appear in the months ahead.
But for Beijing residents, it’s one thing after another. Just as housing prices ease, rental prices jump. The average rental price is now 2,950 yuan ($440), a 2.1% increase month-over-month, according to China National Television.