[photopress:Real_estate_China_property.jpg,full,alignright]According to the National Bureau of Statistics (NBS), investment in China’s property sector jumped to RMB1.43 trillion ( $189.9 billion) in the first eight months of the year, increasing by 29% on a year-on-year basis.
The area of vacant commercial buildings was down 2% from the same period last year. Development of land has increased 15.3% according to the NBS.
China’s housing price rises grew faster in August despite various government control measures.
Prices in 70 large and medium-sized cities were up 8.2% in August over the same month last year, or 0.7 percentage points
Source: International Business Times