[photopress:real_estate_China_building.JPG,full,alignright]The National Bureau of Statistics (NBS) reports China’s national real estate index was 104.07 in April, a decline of 0.65 point from March. But the index was up 1.42 points from a year earlier.
Still, it is slipping if not quite so quickly as to cast doom and despondency on all players.
The index for investment in property development was 104.28 in April, down 0.20 point from March but up 2.11 points from a year earlier. Slippage again.
About RMB695.2 billion ($99.3 billion) went into real estate development nationwide in the first four months of this year and that is up 32.1% year-on-year. Investment in housing construction increased by 35.2% to RMB494.4 billion, including RMB18.6 billion in low-income housing. That is up 24.7%.
The January-April period saw 80.65 million square meters of land developed nationwide by the real estate sector, up 5.9% on the same period of last year which is an increase but nothing like the massive increases we have seen in recent times past.
Between January and April, 1.79 billion square meters of real estate was being constructed nationwide, up 25.4% year-on-year.
So take a very short period and the tendency is either down or slightly up. The longer the period you use for examination the more bullish it appears. The shorter the period, the more bearish which is a word to indicate downwards. These are not panic figures. But they are not figures which will bring happiness and contenment to all real estate investors.
Source: China View