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CN 1Q Investment in Real Estate Development Fades 9.5% YoY, vs 9.2% Fall in Consensus
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China's investment in real estate development in the first quarter of this year whopped RMB2.21 trillion, a year-on-year decline of 9.5%, while the market had expected it to lose by 9.2%; of which, residential investment amounted to RMB1.66 trillion, a downfall of 10.5%, the National Bureau of Statistics (NBS) announced. The housing construction area of real estate developers in China in the first quarter of this year dropped 11.1% year-on-year. The construction area of new housing starts decreased by 27.8%. The area of housing completion faded 20.7%. Sales area of new commercial properties in the first quarter of this year slipped 19.4% year-on-year, of which residential sales area plunged 23.4%. Sales amount of new commercial properties reached RMB2.14 trillion, down 27.6%. AAStocks Financial News |
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