Property sales by price set a record

A boom year for China's property market has sent annual property sales, measured by value, to a record high - a peak that may not be surpassed anytime soon, according to some analysts.

Property sales in 2015 rose 14.4 percent over 2014 to hit 8.73 trillion yuan ($1.3 trillion), the highest in Chinese history, according to the National Bureau of Statistics.

The previous peak was recorded in 2013, when property valued at 8.14 trillion yuan sold in a frenzied year that surged 17.3 percent.