[photopress:Shanghai_Apartments.JPG,full,alignright]A report in Forbes, the American financial magazine gives good news and modified bad news on the estate market in China.
- First, according to the National Bureau of Statistics (NBS) China’s property index stood at 103.31 at the end of August, up 1.55 points from a year earlier. But that was slightly down from July’s 103.51 points.The index takes into account property prices, sales volumes and consumer confidence. The higher the index, the more active the real estate sector.
- Properties which are vacant — unsold or unlet — 121.69 mln square meters in August which was up 13.1 per cent year-on-year.
- On the other hand the property development and investment index was 101.66, up 0.14 points from July, and also up 0.18 from a year earlier.
- And, again, accumulated property development and investment in the first eight months this year was valued at RMB1.106 trillion which is up 24 per cent year-on-year.
- From January to August, total developed land reached 140.22 mln square meters, up 27.5 per cent year-on-year.
Taking these figures as a whole you get the picture of a booming estate and property market in China with, perhaps, some slightly soft areas.