Real Estate Grows Steadily in BeijingThe real estate industry in Beijing continues its drastic growth in the past three quarters with investment hitting 30.44 billion yuan (3.68 billion US dollars), up 25.5 percent over the same period last year, according to the latest information from the city's statistics bureau.The statistics show that investment in building houses was at 16.28 billion yuan (1.97 billion US dollars), up 25 percent, and about 3.5 million square meters of houses were sold, rising 170 percent over last year. The active market stimulates the housing construction. During the past nine months, construction work started or resumed on an area of about 32.6 million square meters, up 6.9 percent over last year. Statistics also indicate that the majority of people buying houses are individual persons and families, who bought 87 percent of the total houses sold in the past three quarters. Experts attribute growth in real estate to various payment methods and more favorable policies. The banks have further cut the interest rate of loans for home-buyers and expanded the return period. |
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