SHENZHEN made national news headlines by having the fastest home prices growth in June, recording a 41.25 percent year-on-year growth, according to figures from research firm China Index Academy.

    Even though home prices in Shenzhen fell 8.15 percent in July, the average home price in Shenzhen remains sky high at 69,843 yuan (US$10,509) per square meter.

    The red-hot housing market has been a concern for the city government, for example, a one-bedroom apartment of the same size in the same residential estate in Futian District was sold at 2.6 million yuan this year while it was sold at 570,000 yuan in 2010.

    The city government has adopted a number of new measures in hopes of cooling off the market. (SD News)