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Chinese real estate investments soar
The popularity of Chinese real estate has been demonstrated by a surge in levels of investment, it has emerged.
Figures from the National Bureau of Statistics show that Chinese property investment reached 941.1 billion yuan (£62.7 billion) in July, an increase of 24 per cent compared to the same month in 2005.
Mid-range housing saw an even more marked rise of 29 per cent to an equivalent of £43.8 billion, while affordable housing also saw an increase in activity of 5.7 per cent to around £1.8 billion worth of investment.
According to China Daily, these figures show that the Chinese property market is still "hot" despite efforts by the government to cool the sector down.
It is estimated that some 1.485 billion square metres of housing were built in China between January and July – a 19.2 per cent increase from last year – and around 127.3 million square metres of land was developed.
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