In a press release the National Bureau of Statistics of China shows that total investment in real estate development in the first ten months of 2017 increased by almost 8% year on year but that the pace of growth has been slowing throughout the year.
Real estate investment in the eastern region was up 8% year on year as it was in the central region which clocked a 13% increase year on year. Investment in the western region was also up but by a more modest 4% and in the northeast real estate investment fell marginally.
Prospects for further growth appear good as the land area purchased by real estate developers continues to rise and is up almost 13% year on year.
The Nikkei Asian Review, quoting the Financial Times has reported that China’s stock of unsold homes continues to fall. Analysts suggest activity in the building and construction sectors could soften the negative impact of the likely economic slowdown next year.
China’s real estate sector is a major driver of growth accounting for about a fifth of GDP if output from other industries driven by housing such as household items, wood products, steel and cement are included.
China: Real estate investment powers ahead
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