BIZCHINA / Center
Property investment up 27.4%
(Xinhua)
Updated: 2007-05-18 13:42
China's real estate investment jumped 27.4 percent from a year earlier to
526.5 billion yuan (68.6 billion U.S. dollars) in the first four months
of 2007, the National Bureau of Statistics (NBS) announced on Friday.
Related readings:
Stability seen in property sector
Realty developers invest US$248.4b in 2006
Home price rise 'to slow down this year'
The growth was just 0.5 percentage points higher than the first quarter
total, but still 6.1 percentage points higher than the same period last
year, according to the NBS.
Analysts said the investment accelerated due to booming housing demand
and robust home price hikes.
Prices of newly-built commercial residential housing in 70 large- and
medium-sized cities climbed six percent year-on-year in the first
quarter, according to a survey from NBS and the National Development and
Reform Commission, the top economic planner.
The NBS announced on Friday that the real estate climate indices hit
102.65 points, 1.43 points higher than March.
It added that, amid record investment by real estate developers, domestic
bank loans rose by 26.8 percent year-on-year, while foreign funds also
soared 91.7 percent.
Between January and April, the total area of "developed" land in China
rose 4.6 percent to 76.15 million square meters.
(For more biz stories, please visit Industry Updates)
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