The National Real Estate Market Report for May 2019, released by the Shanghai E-house Real Estate Research Institute, showed that during the period from January to May the land purchase floorspace for real estate development enterprises fell 33.2% year-on-year, reported China Banking News.
The average land purchase price was RMB 4,389 ($635) per square metre, a 3.5% year-on-year decline and the first annual drop since 2012.
From January to May, nationwide real estate developer investment rose 11.2% on the year, with residential investment rising 16.3%, office investment declining 3.6% and commercial usage space falling 9.7%.
The new construction floor space of developers rose 10.5%, while the commercial housing sales floorspace fell 1.6% on the year, for an expansion of 1.3% compared to the January – April period.
You must log in to post a comment.