China’s real estate sector posts further slowdown in January-October

Tuesday, 16 November 2021 13:24:43 (GMT+3)   |   Shanghai
       

In the January-October period of the current year, total real estate investments in China amounted to RMB 12.4934 trillion ($1.96 trillion), up 7.2 percent year on year, 1.6 percentage points slower than the rise recorded in the first nine months this year, signaling the continuing slow-down in the real estate industry due to central government’s measures to curb sharp rises of housing prices, as announced by China's National Bureau of Statistics (NBS).

In the first ten months, new commercial real estate sold in China covered a total area of 1430.41 million m2, up 7.3 percent year on year, down from the growth by 11.2 percent in the first nine months of the year.

The total area covered by construction activity in China in the given period increased by 7.1 percent, down 0.8 percentage points compared to that recorded in the first nine months. The new area covered by construction activity decreased by 7.7 percent year on year in the given period, 3.2 percentage points faster than that the declining pace recorded in the first nine months this year.


Most Recent Related Articles

Qian’an Jiujiang Wire to build over 5 million mt steel capacity under replacement program

China’s FAI in its railways down 6.7 percent in Jan-Oct

China’s iron ore output up 11.5% in Jan-Oct despite decline in Oct

6,254 projects start construction in China in October

Average new house prices in 100 cities up 0.09 percent in October