Investment in real estate development increases in 9.3 percent y-o-y in Q1 2017 in China
In the first four months, the total investment in real estate development was 2,773.2 billion yuan, a year-on-year growth of 9.3 percent, 0.2 percentage point higher than that of the first three months, according to the National Bureau of Statistics (NBS).
Of the total, the investment in residential buildings went up by 10.6 percent. Floor space of houses newly started was 482.40 million square meters, up by 11.1 percent year-on-year.
Specifically, the floor space of residential buildings newly started increased by 17.5 percent. The floor space of commercial buildings sold reached 416.55 million square meters, up by 15.7 percent year-on-year. Of this total, that of residential buildings went up by 13.0 percent.
The sales of commercial buildings were 3,322.3 billion yuan, up by 20.1 percent year-on-year. Of this total, the sales of residential buildings grew by 16.1 percent. The land space purchased by real estate development enterprises was 55.28 million square meters, up by 8.1 percent year-on-year.
At the end of April, the floor space of commercial buildings for sale was 674.69 million square meters, 13.41 million square meters less than that at the end of March. The funds in place for real estate development enterprises in the first four months reached 4,722.1 billion yuan, up by 11.4 percent year-on-year.