[photopress:property_building_1.jpg,full,alignright]China saw commercial residential sales dip in the first four months this year while real estate investment in central and western regions outpaced that in the eastern part.
The National Development and Reform Commission (NDRC) said the area of residential buildings sold in the January-April period fell 4% year on year to 136.6 million square meters, compared with a 16.6% growth in the same period last year.
According to an NDRC report published in April residential buyers appear to have taken a wait-and-see attitude in the first quarter as housing price rises generally slowed down and transactions continued shrinking as a result of macro-control policies.
[photopress:property_building_3_1.jpg,full,alignleft]The NDRC, China’s top economic planner, said the country completed the construction of 84.5 million square meters of commercial residential houses in the first four months, 20.2% up year on year.
Real estate investment soared 44.8% in central China and 42.6% in western China, while the booming eastern areas posted a 26.1% growth.
In the period, the nation completed RMB695.2 billion ($99.3 billion) of real estate investment in total, 32.1% up year on year and 4.7 percentage points higher.
Source: China View