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Value of new home purchases rises 6.6%
By Cherry Cao |
November 10, 2012, Saturday
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Print Edition
Print Edition
THE value of new home purchases in China rose by a wider 6.6 percent from a year ago in the first 10 months of this year.
Sales of new homes, excluding government-subsidized affordable housing, totaled 3.88 trillion yuan (US$615 billion) across the country between January and October, the National Bureau of Statistics said yesterday. In the first nine months, the sales value gained an annual 3.3 percent and was up 2.3 percent in the first eight months.
"I expect the buying momentum to carry forward through the year end," said Huang Zhijian, chief analyst at Shanghai Uwin Real Estate Information Services Co. "However, while overall sentiment in the new housing market improved from 2011, transactions still remained rather low compared with historical records."
The sales of new homes totaling 503.7 billion yuan in October, however, fell from 540.4 billion yuan in September.
By volume, new home sales shed 1.2 percent from a year earlier to 700.92 million square meters in the 10-month period, compared with a drop of 4.3 percent in the first nine months and a fall of 4.8 percent from January to August.
The bureau also said investment in housing projects rose 10.8 percent year on year to 3.97 trillion yuan in the first 10 months, compared with 10.5 percent in the first nine months.
Sales of new homes, excluding government-subsidized affordable housing, totaled 3.88 trillion yuan (US$615 billion) across the country between January and October, the National Bureau of Statistics said yesterday. In the first nine months, the sales value gained an annual 3.3 percent and was up 2.3 percent in the first eight months.
"I expect the buying momentum to carry forward through the year end," said Huang Zhijian, chief analyst at Shanghai Uwin Real Estate Information Services Co. "However, while overall sentiment in the new housing market improved from 2011, transactions still remained rather low compared with historical records."
The sales of new homes totaling 503.7 billion yuan in October, however, fell from 540.4 billion yuan in September.
By volume, new home sales shed 1.2 percent from a year earlier to 700.92 million square meters in the 10-month period, compared with a drop of 4.3 percent in the first nine months and a fall of 4.8 percent from January to August.
The bureau also said investment in housing projects rose 10.8 percent year on year to 3.97 trillion yuan in the first 10 months, compared with 10.5 percent in the first nine months.
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