Activity in China’s real estate sector in the first two months of 2016 has been reported by the National Bureau of Statistics (NBS). China releases combined data for January and February to smooth out the effect of the slowdown in construction over the Lunar New Year holiday period.
The press release from the NBS says total investment in the first two months of 2016 was up 3% year-on-year.
Investment in residential buildings was up by 1.8% and accounted for two thirds of total investment in the sector.
-
- Source: National Bureau of Statistics. China
-
- Source: National Bureau of Statistics. China
-
- Source: National Bureau of Statistics. China
Sales of residential buildings in the first two months of this year rose as the Chinese authorities eased credit requirements to encourage consumers to buy homes.
New home sales rose almost 50% year on year during the January-February period. For 2015 home sales nationwide rose almost 17% after the decline in 2014.
But, looking ahead, in the first two months of this year land purchases by real estate development enterprises fell 19.4% year on year however, the January and February performance was a considerable improvement on the steep declines recorded at the end of last year.
In the first two months of this year sales of commercial buildings increased 28%, a sharp rise on the pace of growth last year.
[gravityform id="1" title="true" description="true"]
[gravityform id="2" title="true" description="true"]
