Sales value of commercial residential housing surges 58%

13:34, April 15, 2010      

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According to a report released by the National Bureau of Statistics, the sales value of commercial residential buildings reached 797.7 billion yuan between January and March, up nearly 58 percent compared to the same period of the previous year.

According to the report, the total area of commercial residential buildings sold between January and March was 153.6 million square meters, up almost 36 percent compared to the same period last year. The total area of commercial residential buildings that began construction between January and March was 323 million square meters, up nearly 61 percent, and the total area of land real estate developers purchased between January and March reached 61.7 million square meters, up 30 percent.

Housing prices continue to rise. In March, 70 of China's large and medium-sized cities witnessed an increase in the average housing price by almost 12 percent, with the average price of newly-built commercial residential buildings increasing by nearly 16 percent.

Real estate development remains active. Between January and March, investment in the real estate sector reached 659.4 billion yuan, up 35 percent over the same period of last year. Of which, the investment in the development of commercial residential buildings reached 455.2 billion yuan, up 33 percent.

The real estate climate index has been increasing since April 2009. It reached 105.9 in March, up by less than 1 percentage point compared to the previous month, and up over 11 percentage points over the previous year.

By People's Daily Online


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