In August, real estate prices in 70 medium and large cities in China grew 2.0 percent year on year, and climbed 0.9 percent from the July price levels.
In the first eight months of the current year, China invested RMB 2.1147 trillion ($310 billion) in real estate development, marking a year-on-year growth of 14.7 percent. The growth rate in question was up 3.1 percentage points compared with that registered in the first seven months of 2009, and was down 14.4 percentage points compared with the same period last year.
The housing area under construction in China in the January-August period totaled 2.629 billion square meters, a year-on-year increase of 13.5 percent, up 1.0 of a percentage point over the first seven months. In the same period construction work started on a total housing area of 631 million square meters, representing a year-on-year drop of 5.9 percent, down 3.2 percentage points compared with that registered in the first seven months of 2009. Meanwhile, the completed housing area reached 292 million square meters, up 25.1 percent year on year. The growth rate in question was up 0.4 of a percentage point compared with that recorded for the first seven months of this year.
From January to August, the land area purchased by real estate development enterprises in China reached 186.31 million square meters, down 25.3 percent year on year.
In the January-August period, the real estate sales volume in China rose 42.9 percent from a year earlier to 494.16 million square meters.