China’s real estate sales have reached 10 trillion yuan (1.48 trillion USD) in the first 11 months of 2016, China's National Bureau of Statistics announced on Tuesday. The amount excludes data from December.

The sales have surged 37.5 percent year-on-year, with a 24.3 percent growth of housing selling area. China's annual property sales in this industry have surpassed the GDP of South Korea, Australia, and Russia, which has a GDP of $1.38 trillion, $1.34 trillion and 1.33 trillion respectively in the year of 2015.