China's National Real Estate Indices, which gauges the country's
real estate development, hit 104.0 points last month, the highest
in three years, the National Bureau of Statistics announced
yesterday.
The index, 0.37 points higher than the previous month, has
registered a year-on-year growth of 0.49 points. The index has
steadily climbed for the past three months after a downward spiral
during the first quarter of this year. In July the Real Estate
Development Investment Index reached 103.41 points, having climbed
0.56 points from the previous month. It registered a year-on-year
increase of 1.89 points.
Utilized foreign investment surged to 33.3 billion yuan by the
end of last month, with robust growth of 74.5 percent compared with
last year. From January to July, the country utilized 1,868.9
billion yuan for real estate development. This figure indicates a
year-on-year growth of 29.6 percent.
Although real estate market heated up in July, the vacant
development space declined. The Index of Land Space Development
went down 0.13 points from a month earlier to 97.93 points last
month, declining by 3.06 points as compared with last year.
(China.org.cn by Wu Jin, August 21, 2007)
