14 March 2017
Beijing
Reporter: Mark Dugdale

China real estate enjoys early growth in 2017


China saw almost double-digit growth in real estate investment during the first two months of 2017, as demand for residential and commercial property increased.

Real estate investment was up 8.9 percent year-on-year, according to China’s National Bureau of Statistics, with growth 2 percentage points higher than 2016’s figure.

Investment in residential buildings was up 9 percent during the first two months of 2017, while 140.54 million square meters of commercial floor space was sold, reflecting 25.1 percent of growth year over year.

Sales of commercial buildings amounted to RMB 1.08 trillion (USD 156.2 billion), an increase of 26 percent over the previous year.

At the end of February, available commercial floor space was down 4.6 percent to 705.55 million square meters.

The funds in place for real estate development enterprises in the first two months of 2017 reached RMB 2.3 trillion (USD 332.7 billion), which was up 7 percent on the previous year.

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