China’s real estate sector sees further gradual improvement in Oct

China’s real estate sector sees further gradual improvement in Oct

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In the January-October period this year, total real estate investments in China amounted to RMB 11.6556 trillion ($1.76 trillion), up 6.3 percent year on year, 0.7 percentage points bigger than the rise recorded in the first nine months of the year, indicating a further improvement in the real estate industry, as announced by China’s National Bureau of Statistics (NBS).

Real estate sales remained stable year on year in the first ten months of the year, reflecting decent transaction activities in the real estate market. In the January-October period, new commercial real estate sold in China covered a total area of 1332.94 million m2, remaining stable year on year, shifting from a year-on-year decline of 1.8 percent recorded in the first nine months.

The total area covered by construction activity in China in the January-October period increased by 3.0 percent, down 0.1 percentage point from the 3.1 percent rise recorded in the first nine months. Nevertheless, the decline in the new area covered by construction activity slowed down to 2.6 percent, from 3.4 percent in the first nine months of the year.

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