According to official statistics, real estate investment growth in China
sped up in the first five months of the year. Growth of 34.6 per cent was recorded, from a rise of 34.3 per cent in the first four months.
The National Bureau of Statistics figures suggest that property investment in the country quickened over the course of the month, with Reuters suggesting that this was a result of the increased pace of construction of affordable housing.
Indeed, property analysts have claimed that Beijing's increasing efforts to build more cheap housing for its poor population will help sustain real estate investment
In terms of sales, there was a pick up following a brief slowdown in April. The official data showed total floor space sold in the first five months was 9.1 per cent more than the same period last year, while the corresponding value increased by 18.1 per cent.
The agency is scheduled to announce housing price data in 70 major cities on Saturday.
- Monday 20 June 2011