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New home purchases rise 34.5% in 1st nine months
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New home purchases in China continued to be robust in the first three quarters of this year, surging nearly 35 percent, the National Bureau of Statistics said yesterday.
The purchases nationwide jumped 34.5 percent between January and September from the same period a year earlier to 4.54 trillion yuan (US$744 billion), the bureau said.
But the pace eased slightly from the 35.7 percent rise in the first eight months.
By volume, 754.3 million square meters were bought during the first nine months, up 23.9 percent year on year but moderating from an annual rise of 24.4 percent recorded between January and August.
In September alone, the value of new home sales in China surged to 691.1 billion yuan, up from 514.6 billion yuan in August. By volume, 119.27 million square meters were transacted, a rise from 86.59 million square meters in August. The figures were derived from the difference between data for the first nine and eight months of the year.
The bureau’s data pointed to a housing market that is heating up nationwide on strong demand from end-users amid an inadequate supply.
A research released earlier this month by the China Index Academy showed that new home prices in 100 major Chinese cities climbed for the 16th straight month in September.
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