In the January-February period of the current year, total real estate investments in China amounted to RMB 1.3986 trillion ($0.22 trillion), up 38.3 percent year on year, 31.3 percentage points bigger than the rise recorded in the January-February of 2020, indicating a further improvement in the real estate industry, while up 15.7 percent compared to the same period of 2019, as announced by China's National Bureau of Statistics (NBS).
Real estate sales rose by 1.33-fold year on year in the first two months this year, while up by 49.6 percent compared to the same period of 2019, reflecting better activities in the real estate market. In the given period, new commercial real estate sold in China covered a total area of 173.63 million m2, up 1.05-fold year on year, while up 23.1 percent compared to the first two months of 2019.
The total area covered by construction activity in China in the given period increased by 11.0 percent, up 7.3 percentage points compared to the increase recorded in the January-February period of 2020. Moreover, the year-on-year rise in the new area covered by construction activity in the first two months this year stood at 64.3 percent, shifting from a year-on-year decline of 1.2 percent in the same period last year.
$1 = RMB 6.5029