May 27, 2022 12:49 pm

China increases real estate investment

BEIJING (Xinhua) — China’s investment in real estate development posted a year-on-year increase of 4.4 percent in 2021, according to data released by the National Bureau of Statistics.

In the past year, real estate investment stood at about 14.76 trillion yuan (2.32 trillion US dollars), according to the entity. Compared to 2019, real estate investment rose 11.7 percent, putting the two-year average at 5.7 percent, according to statistics.

In 2021, investment in residential buildings rose 6.4 percent from a year earlier, approaching 11.12 trillion yuan.

Last December, China kept its real estate market generally stable, with slight month-on-month declines in house prices in the country’s top 70 cities., according to official data.

New home prices in the four first-tier cities, namely Beijing, Shanghai, Shenzhen and Guangzhou, fell 0.1 percent month on month in December, according to the National Bureau of Statistics.

While, New home prices in Beijing were largely flat from the previous month, while Shanghai reported a 0.4 percent increase. Prices in Guangzhou and Shenzhen fell 0.6 percent and 0.1 percent, respectively.

Contrary to the general cooling of new construction prices, Market prices for second-hand homes in the four cities rose 0.1 percent month on month in December. All 31 tier two cities and 35 tier three cities each saw 0.3 percent month-on-month declines in new home prices.

“Overall, house prices in the 70 cities monitored have continued the downward trend since the fourth quarter of last year,” said Sheng Guoqing, a senior statistician with the bureau.

Comments (0)

Leave a Reply

Your email address will not be published.