http://spanish.china.org.cn/economic/txt/2016-04/15/content_38252733.htm
Investment in the real estate sector of China rose 6.2 percent year on year in the first three months of 2016, according to data released Friday by the National Bureau of Statistics (NBS).
the expansion continued after growth of 3 percent registered between January and February and 1 percent for all of 2015.
However, the rate of the first quarter remained below the 8.5 percent growth recorded in the same period of 2015.
the real estate sector has been an important driving force of economic growth in China.
it is believed that prolonged weakness in this sector and slower growth in real estate investment is one of the main risks to the economy of the country and two major reasons behind the weak overall demand in China.
according to the BNE, investment in residential housing rose 4.6 percent in the first quarter.
the construction of new housing rose 19.2 percent in terms of surface relative to the decrease of 14 per percent last year.
in terms of area, sales of residential housing grew 33.1 percent in the first three months, well above the 6.5 percent rise in 2015, according to the data.
sales revenue rose 54.1 percent compared with 14.4 percent increase in 2015.
NBS figures also show the gross floor area bought by developers fell 11.7 percent, improving compared to a decrease of 31.7 percent last year.
the real estate sector in China has shown signs of recovery in the last three months, with increases in housing prices in metropolises like Beijing, Shenzhen and Shanghai.
But the market in smaller cities still sunk because of oversupply, the government is trying to reduce.
there were about 735.2 million square meters of housing built unsold across the country in late March, a decrease of 4.2 million square meters’ end of February, according to NBS data.
However, on an annual basis, inventory was still 13.1 percent higher than the same period of 2015.
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