Business Intelligence on Retailing, Franchising, and Consumerism in China

Chinese Real Estate Market Continues Fast Growth

Investment in China's real estate sector in the first eleven months of 2010 grew by more than a third over the preceding year.

According to China's National Bureau of Statistics, from January to November, the total investment in real estate development was CNY4.269 trillion, up by 36.5% year-on-year. Of which, investment in commercial residential buildings reached CNY3.002 trillion, a 34.2% increase year-on-year, which occupied 70.3% of the investment in real estate development. In November, the completion of investment in real estate development totaled CNY462.8 billion, increasing 36.7%, year-on-year.

In the past eleven months, the floor spaces under construction of real estate development enterprises in the whole country stood at 3.843 billion square meters, a year-on-year increase of 28.6%. In the past eleven months, land areas purchased was 361 million square meters, up by 33.2%; and the value of land purchased amounted to CNY893.1 billion, an increase of 77.9%.

From January to November, the floor spaces of commercial buildings sold accounted for 825 million square meters, surging up 9.8%, year-on-year. In November alone, the floor spaces of commercial buildings sold accounted for 101.13 million square meters, increasing 14.5%, year-on-year.

In November, sales price indices of buildings in 70 medium-large sized cities increased 7.7%, year-on-year, narrowing 0.9% points over October 2010.

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