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China’s real estate sector growth slow visibly in Jan-Sept

Tuesday, 19 October 2021 12:23:29 (GMT+3)   |   Shanghai
       

In the January-September period of the current year, total real estate investments in China amounted to RMB 11.2568 trillion ($1.75 trillion), up 8.8 percent year on year, 2.1 percentage points slower than the rise recorded in the first eight months this year, indicating the slowing down in the real estate industry due to central government’s measures to curb sharp rises of housing prices, while up 14.9 percent compared to the same period of 2019, as announced by China's National Bureau of Statistics (NBS).

In the first nine months, new commercial real estate sold in China covered a total area of 1303.32 million m2, up 11.3 percent year on year, down from a 15.9 percent rise in January-August.

The total area covered by construction activity in China in the given period increased by 7.9 percent, down 0.5 percentage points compared to the increase recorded in the first eight months. Moreover, the new area covered by construction activity decreased by 4.5 percent year on year in the given period, 1.3 percentage points faster than that the declining pace recorded in the first eight months this year, signaling reduced needs for steel. 


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