The latest data shows that properties in Guangzhou city centre are getting increasingly expensive; the highest average price has surpassed 12,000 yuan per square meter.

According to online statistics from the Guangzhou Land Resources and Housing Management Bureau as of March 31st, 10,833 properties had been traded in the former eight districts in the first quarter this year.

The average price is 7,483 yuan per square metre, up 14 percent compared with 6,563 yuan per square meter last December. 129 units were sold in Yuexiu District, which ranked seventh in terms of transaction numbers, while Haizhu District was the winner with 3,589 unit sales. However the average price of 12,356 yuan per square meter makes Yuexiu District the number one in terms of property value.

According to DTZ Consulting & Research, the percentage of new properties above 5,000 yuan per square meter in the fourth quarter last year had soared to 78 from 50 in the third quarter. Reviews of 31 new properties that will hit the market soon also show that there are 14 properties whose average price is above 7,000 yuan per square meter and 6 properties between 6,000 and 7,000 yuan per square meter.

The remaining 11 properties are below 6,000 yuan per square and only two are located in the city centre.

Editor: Yan