Real estate investment surges, prices rise
Updated: 2016-03-14 08:05
By Zheng Yangpeng(China Daily)
Talk about new growth engines may be all the rage, but property development remains a tried-and-true growth booster.
Real estate investments, representing nearly 20 percent of the nation's total investment in fixed assets, has accelerated for the first time since the beginning of 2015, according to the National Bureau of Statistics.
New housing starts posted a significant surge: from a 14 percent contraction in December to a 13.7 percent rise in the first two months of the new year. Property sales, in terms of floor space, rose 28.2 percent, while in terms of value, they surged even more - 43.6 percent, the bureau said.
That suggests a substantial price increase. The January-February growth numbers, however, were exaggerated by an extremely low comparison base in the same period last year.
For example, property sales, which were reported at 112.35 million square meters, trailed behind last year's two-month average of 214 million sq m, and were just 7 percent higher than 2013 and 2014's first two months.
Still, for the first time in the past year, property sales, investments and land sales all ended their downward trajectory, something developers and local governments cheered.
Buoyed by a significant housing price surge in first-tier and a few second-tier cities in the past month, property sales are expected to accelerate in the following months, which would in turn raise developers' appetite for more construction and the economy's overall demand.
However, housing industry specialists noted, the recovery was still uneven.
The number of unsold homes is still on the rise with 70 percent of them in small cities, overshadowing the hope for a sustained, industrywide recovery.
- Germanwings crash caused deliberately by mentally ill copilot: BEA
- Second car bomb in a month kills 34 in Turkish capital, Ankara
- German voters batter Merkel over migrant policy
- Myanmar's ruling party secures 2 seats of presidential candidates
- 'Hearts in pieces' 5 years after tsunami hits Japan
- Kim Jong-un orders nuclear strike means to be ready
- The world in photos: March 7 - March 13
- China's booming IT industry helps drones fly high
- This 'mermaid' left broadcasting for a watery world
- Snapshots at Two Sessions
- Beijing sees blue sky during the two sessions
- Fukushima five years on: Searching for loved ones
- Robots ready to offer a helping hand
- China to bulid another polar ship after Xuelong
Cavers make rare finds in Guangxi expedition
Cutting hair for Longtaitou Festival
Twin brothers and sisters form acrobatics team
600,000 tulips bloom in Kunming
Southeast Asia experiences rare total solar eclipse
China hits back at US over restrictions on ZTE
Today's Top News
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
Accentuate the positive in Sino-US relations
Dangerous games on peninsula will have no winner
National Art Museum showing 400 puppets in new exhibition
Finest Chinese porcelains expected to fetch over $28 million
Monkey portraits by Chinese ink painting masters
Geared to go
The place to be