China’s real estate sales increase by 2.6% in 2020, investments up 7%

Tuesday, 19 January 2021 15:34:14 (GMT+3)   |   Shanghai
       

In 2020, total real estate investments in China amounted to RMB 14.1443 trillion ($2.2 trillion), up 7.0 percent year on year, 0.2 percentage points higher than the rise recorded in the first 11 months of the year, indicating a further improvement in the real estate industry, as announced by China's National Bureau of Statistics (NBS).

Real estate sales by area of space rose by 2.6 percent year on year in the given year, 1.3 percentage points higher than the increase rate recorded in the January-November period of the year, reflecting improved activity in the real estate market. In the given year, new commercial real estate sold in China covered a total area of 1.76086 billion m2. At the same time, sales of commercial buildings in RMB surged by 8.7 percent year on year.

The total area covered by construction activity in China in the given year increased by 3.7 percent, up 0.5 percentage points compared to the increase recorded in the first 11 months. The decline in the new area covered by construction activity slowed down to 1.2 percent year on year in 2020, from a decrease of 2.0 percent in the first 11 months of the given year.  

$1 = RMB 6.4883


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