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Growth of China new home sales slows
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Growth of new home purchases in China continued to slow down in the first eight months of this year, the National Bureau of Statistics said yesterday.
Between January and August, 3.85 trillion yuan (US$628 billion) of new homes were sold across the country, up 35.7 percent year on year, compared with a 39.9 percent rise in the first seven months and a 46 percent jump in the first half of this year, according to the bureau.
By area, 634.07 million square meters were sold in the eight-month period, up 24.4 percent year on year. This was a smaller increase compared with an annual gain of 27.1 percent between January and July and a 30.4 percent rise in the first six months of this year.
In August alone, 86.59 million square meters of new homes worth 514.6 billion yuan were transacted compared with 86.58 million square meters valued at 516.5 billion yuan in July based on the difference between data for the first eight and seven months of the year.
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