China’s real estate sector improves further in August

Wednesday, 16 September 2020 14:21:26 (GMT+3)   |   Shanghai
       

In the January-August period this year, total real estate investments in China amounted to RMB 8.8454 trillion ($1.3 trillion), up 4.6 percent year on year, 1.2 percentage points bigger than the increase recorded in the first seven months of the year, indicating a further improvement in the real estate industry in August, as announced by China's National Bureau of Statistics (NBS).

The year-on-year declines slowed down further in real estate sales and new construction in the first eight months of the year, signaling thriving construction activity and decent transaction activities in the real estate market.

In the January-August period, new commercial real estate sold in China covered a total area of 984.86 million m2, down 3.3 percent on year-on-year basis, 2.5 percentage points slower than the decline recorded in the first seven months.

The total area covered by construction activity in China in the January-August period increased by 3.3 percent, up 0.3 percentage points from the 3.0 percent rise recorded in the first seven months.

The decline in the total new area covered by construction activity slowed down to 3.6 percent from 4.5 percent in the first seven months of the year.  

$1 = RMB 6.7825


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