Real estate investments in China up 11.2 percent in January-May

Tuesday, 18 June 2019 11:52:34 (GMT+3)   |   Shanghai
       

In the January-May period of the current year, total real estate investments in China amounted to RMB 4.6075 trillion ($0.66 trillion), up 11.2 percent year on year, with this growth rate down 0.7 percentage points compared to that recorded in the January-April period this year, as announced by China's National Bureau of Statistics (NBS).

Investments in residential dwellings in China in the first five months of the year amounted to RMB 3.378 trillion ($0.49 trillion), rising by 16.3 percent year on year, accounting for 73.3 percent of total real estate investments in the country during the given period.

In the January-May period, new commercial real estate sold in China covered a total area of 555.18 million m2, down 1.6 percent on year-on-year basis. The total area covered by new residential buildings sold in China in the given period decreased by 0.7 percent, the total area covered by new office buildings sold decreased by 12.2 percent, while the total area of new commercial business space sold during the given period was down 12.9 percent, all year on year.

Market analysts remarked that the new residential buildings market in China has cooled off to some extent due to the tightening of lending policies in some major cities.


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