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More Individual House Buyers in China
Individual buyers took the lion's share of all commercial house purchases in China from January to August this year, Monday's Economic Daily reported.
Eighty-nine percent of the commercial houses sold during the period were bought by individuals nationwide, an increase of 7.7 percentage points from the same period of last year.
"Sales have remained high this year. In the first eight months, revenue was up 42.8 percent and the floor space sold was up 40 percent, compared with the same period of last year," said an official with the ministry.
The average price for residential houses was 1,923 yuan per square meter, up 5.3 percent on an annual basis, he said.
From January to August of this year, newly-built houses amounted to 153.87 million square meters, up 32.3 percent.
Analysts say that the figures show that the housing reform and the government's efforts to reduce the stockpile of commodity housing have paid off.
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