Investments in China's real estate market jumped 31.4 percent in
the first 10 months of this year from a year earlier to 1.92
trillion yuan (US$259 billion), the National Bureau of Statistics
reported today.
About 1.37-trillion-yuan was invested in residential property,
rising 33.7 percent from the same period last year, among which
61.8 billion yuan was pumped into budget homes, up 32.2 percent,
the bureau said.
The country had 117.69 million square meters of vacant
properties by the end of October, dropping 3.9 percent form a year
earlier, and vacant residences covered an area of 58 million square
meters, down 13.3 percent, the bureau said.
A total of 1.65 billion square meters of residences were under
construction during the 10 months, rising 24 percent from a year
earlier and developments on 198 million square meters of land were
completed, growing 7.9 percent.
The real estate climate index grew 2.34 points in October from a
year earlier to 105.74, a growth of 0.75 points from September, the
bureau said.
The index, which reflects the nation's current property market
situation and development trends, includes sub-indices such as
investment, sources of capital, floor space of marketable yet
unsold buildings, area of land developed and the floor space of
buildings under construction.
Last month's average housing price in the mainland's 70 biggest
cities jumped 9.5 percent on a yearly basis, compared with
September's 8.9-percent growth rate, the National Development and
Reform Commission said last week.
(Shanghai Daily November 19, 2007)
