In the January-September period of this year, total real estate investments in China amounted to RMB 9.8008 trillion ($1.4 trillion), up 10.5 percent year on year, with this growth rate remaining stable compared to that recorded in the January-August period this year, as announced by China's National Bureau of Statistics (NBS). China’s central government has several times stressed that housing is for living in rather than for speculating on, seeking to promote the stable development of the real estate market.
In the January-September period, new commercial real estate sold in China covered a total area of 1191.79 million m2, down 0.1 percent on year-on-year basis, with the decrease rate 0.5 percentage points slower than that seen in the January-August period. Though sales of buildings increased in September, there is traditionally a rebound in the month of September and the pace of growth could have been faster but was restricted by high house prices.
At the same time, the total area covered by new construction activity in China in the first nine months of the year increased by 8.6 percent, compared to an increase rate of 8.9 percent in the January-August period.
Market analysts stated that overall sales activities in China’s real estate market will unlikely see significant improvement, which will weaken demand for rebar and wire rod.