In the January-October period of the current year, total real estate investments inChinaamounted to RMB 12.4934 trillion ($1.96 trillion), up 7.2 percent year on year, 1.6 percentage points slower than the rise recorded in the first nine months this year, signaling the continuing slow-down in the real estate industry due to central government’s measures to curb sharp rises of housing prices, as announced byChina's National Bureau of Statistics (NBS).
In the first ten months, new commercial real estate sold inChinacovered a total area of 1430.41 million m2, up 7.3 percent year on year, down from the growth by 11.2 percent in the first nine months of the year.
The total area covered byconstructionactivity inChinain the given period increased by 7.1 percent, down 0.8 percentage points compared to that recorded in the first nine months. The new area covered byconstructionactivity decreased by 7.7 percent year on year in the given period, 3.2 percentage points faster than that the declining pace recorded in the first nine months this year.