Home » Business » Real Estate
Heat dampens housing market
Print Edition
GROWTH in China’s real estate investment and home sales gained in the first seven months from a year earlier, but fell in July on a monthly basis, according to data published yesterday by the National Statistics Bureau.
Investment in residential, commercial and other real estate gained 21 percent year on year to 4.43 trillion yuan (US$718.6 billion) in the first seven months, compared with a 15 percent increase for the same period a year ago.
Almost 60 percent of this was invested in east China.
The value of home sales rose 38 percent year on year for the first seven months of this year to 3.95 trillion yuan.
Sales in east China grew 42 percent, compared with 35 percent in inland areas and 28 percent in the west.
However, on a monthly basis, both investment and sales slowed last month due to weaker market sentiment.
Total investment stood at 750 billion yuan in July — down 250 billion yuan from a month ago. Home sales fell 140 billion yuan to 610 billion yuan.
“Sales in July fell due to seasonal factors, and the same is expected in August,” Core Pacific-Yamaichi Securities said in a report yesterday.
“Scorching weather in China, especially in middle and eastern regions, depressed market sentiment. We expect sales to accelerate again in September.”
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
