Real estate development investment continues to increase in China

According to the National Bureau of Statistics (NBS), the total investment in real estate development in the first two months of 2017 was 985.4 billion yuan, a nominal increase of 8.9 percent year-on-year, the growth rate went up by 2 percentage points over the previous year, Of which, the investment in residential buildings was 657.1 billion yuan, up by9.0 percent, 2.6 percentage points higher, and accounted for 66.7 percent of real estate development investment.

In the first two months, the real estate investment in eastern region stood at 596.6 billion yuan, up by 7.8 percent year-on-year, and the growth rate went up by 2.2 percentage points over the first ten months; the central region stood at 190.7 billion yuan, went up by 13.7percent, and the growth rate was up by 3 percentage points; western region stood at 198.2 billion yuan, up by 7.8 percent, up by 1.6 percentage points.

In the first two months, the floor space under construction by the real estate development enterprises accounted for 6,229.50 million square meters, a year-on-year increase of 3.2 percent, the growth rate stayed the same level. Of which, the floor space of residential building construction area was4,231.85 million square meters, up by 2.1percent. The floor space started this year was 172.38millions square meters, up by 10.4 percent, up by 2.3 percentage points.The floor space of residential buildings started in the year amounted to 124.10 million square meters, up by 14.8 percent. The floor space of buildings completed stood at 161.41million square meters, went up by 15.8 percent, wentup by 9.7 percentage points. Of which, the floor space completed of residential buildings stood at 116.74million square meters, went up by 15.3 percent.

In the first two months, the land area purchased by the real estate development enterprises totaled 23.74million square meters, was up by 6.2percent year-on-year, and the growth rate of the previous year was down by 3.4 percent. The total transaction of land reached 79.4 billion yuan, increased 12.7 percent, and the pace of increase went down7.1 percentage points over the last year.

Source: NBS

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