Residential property investment climbs to 2 trillion yuan

China | 17 Apr 2018 2:55 pm

China's investment in property development grew by 10.4 percent year-on-year in the first quarter, official data showed today.

Investment in the real estate sector stood at 2.13 trillion yuan, according to the National Bureau of Statistics, Xinhua reports.

Residential real estate investment reached 1.47 trillion yuan, up 13.3 percent on-year and one percentage point higher than that of the first two months.

Property development investment grew fastest in central China while grwoth was slowest in the northeastern region.

Real estate developers built about 6.47 billion square meters of housing in the first three months, up 1.5 percent on-year.

Commercial housing sales measured by floor area grew by 3.6 percent on-year, down by 0.5 percentage points compared with that in the first two months.

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