China’s real estate sector sees further gradual improvement in Nov

Wednesday, 16 December 2020 14:48:31 (GMT+3)   |   Shanghai

In the January-November period this year, total real estate investments in China amounted to RMB 12.9492 trillion ($1.98 trillion), up 6.8 percent year on year, 0.5 percentage points higher than the rise recorded in the first ten months of the year, indicating a further improvement in the domestic real estate industry, as announced by China's National Bureau of Statistics (NBS).

Real estate sales rose by 1.3 percent year on year in the first 11 months of the year, reflecting better transaction activities in the real estate market. In the January-November period, new commercial real estate sold in China covered a total area of 1508.34 million m2, up 1.3 percent year on year, 1.3 percentage points higher than in the first ten months.

The total area covered by construction activity in China in the January-November period increased by 3.2 percent, up 0.2 percentage points compared to the increase recorded in the first ten months. Nevertheless, the decline in the new area covered by construction activity slowed down to 2.0 percent, from 2.6 percent in the first ten months of the year.

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