## Figure 2.3.2. Three-Year-Ahead House Prices at Risk and Valuation across Regions in China (Median HaR, in percent and price-per-square-meter-to-income ratio)

## Source details

**Canonical URL:** [Figure 2.3.2. Three-Year-Ahead House Prices at Risk and Valuation across Regions in China (Median HaR, in percent and price-per-square-meter-to-income ratio)](https://www.imf.org/-/media/files/publications/gfsr/2019/april/english/ch2data/charts/boxfigure2-3-2.pdf)

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### Measure definitions and axes
- Metric: Median HaR (house prices at risk), expressed in percent, and price-per-square-meter-to-income ratio.
- Vertical axis (HaR, percent) tick values shown: –20, 10, –15, –10, –5, 0, 5.
- Horizontal (valuation) axis (ratio of house price per square meter to income) tick values shown: 0.05, 0.10, 0.15, 0.20.
- Time points displayed: 2007, 2011, 2015, 2017 (years appear for multiple regions).

### Geographic coverage
- Regions explicitly labeled: China, West, Middle, Northeast, East.

### Chart focus and interpretation cues
- The figure pairs three-year-ahead HaR (median, in percent) with valuation measured by the ratio of house price per square meter to income.
- Years indicated on the figure include 2007, 2011, 2015, and 2017, enabling comparison of HaR and valuation across those dates for the listed regions.

### Visual elements retained from source
- HaR scale includes negative and positive percent values ranging from –20 to 10.
- Valuation scale ranges from 0.05 to 0.20 in price-per-square-meter-to-income ratio.
- Multiple points or series for the years 2007, 2011, 2015, and 2017 are shown for regions China, West, Middle, Northeast, and East.

*Sources: Haver Analytics; and IMF staff calculations. Note: HaR = house prices at risk.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2019/april/english/ch2data/charts/boxfigure2-3-2.pdf_