CRI听力:Guangzhou Daily : Be wary of Real Estate bubble Re-ballooning

In South China's Shenzhen city, two pieces of residential land lately have been auctioned at a price of more than 230 million US dollars. It's the first land deal in five months. (www.hxen.net)

And in Shanghai, a piece of residential land has also attracted a dozen developers.

The Guangzhou Daily published a commentary, warning of the possibility of a new real estate bubble.

The author says the news of developers chasing a single piece of residential land is likely to mislead consumers.

The article also warns officials, who consider the bubbling market as their political achievement, not to ignore the potential danger to the economy.

The author points out that there are still problems for China's housing market.

The vacancy rate of commercial departments remains high and many citizens are burdened with mortgages.

Under these conditions, the author says over investment in the property market may not be a good sign.

The author suggests the government departments clarify their relationships with the developers and publicize the cost of the residential land.

In that way, the article says, China can have a healthy real-estate market.