Real estate investment

25 April 2008

Investment in China’s real estate sector hit CNY 1.46 trillion (US$ 183 billion) in the first 10 months of this year, a rise of +24.1% year-on-year, according to the latest statistics from the National Bureau of Statistics (NBS), reports Xinhua.

Investments in residential housing rose +28.4% year-on-year to CNY 1.03 trillion (US$ 131 billion), including CNY 46.8 billion (US$ 595 million) on “affordable houses”. However, by the end of October, about 122 million m2of new housing lay unoccupied, a year-on-year increase of +9.3%.

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