In the January-August period of the current year, total real estate investments in China amounted to RMB 9.806 trillion ($1.52 trillion), up 10.9 percent year on year, 1.8 percentage points slower than the rise recorded in the first seven months this year, indicating the slowdown in the real estate industry due to the central government’s measures to curb the rapid rises of housing prices, while up 15.9 percent compared to the same period of 2019, as announced by China's National Bureau of Statistics (NBS).
In the first eight months this year, new commercial real estate sold in China covered a total area of 1141.93 million m2, up 15.9 percent year on year, while rising by 12.1 percent compared to the increase recorded in the same period of 2019.
The total area covered by construction activity in China in the given period increased by 8.4 percent, down 0.6 percentage points compared to the rise recorded in the first seven months.
The new area covered by construction activity decreased by 3.2 percent year on year in the given period, 2.3 percentage points faster than the drop recorded in the first seven months this year.