News Real Estate

China’s real estate investments decline by 7.4 percent in Jan-Aug

In the January-August period this year, total real estate investments in China amounted to RMB 9.0809 trillion ($1.3 trillion), down 7.4 percent year on year, as announced by China’s National Bureau of Statistics (NBS).

In the given year, new commercial real estate sold in China covered a total area of 878.9 million m2, down 23.0 percent year on year.

The total area covered by construction activity in China in the given period declined by 4.5 percent year on year. Nevertheless, the new area covered by construction activity decreased by 37.2 percent year on year in the given period.

The real estate industry in China continues to see a contraction. Market insiders have said the comprehensive optimization of purchase limit and loan limit policies and the measures to ensure the restart of stalled projects will likely improve market sentiment and will exert a positive impact on the real estate industry.

Source link