Gu Yunchang, the vice president of the China Real Estate Research Association said that, from January to October this year, sales of newly-built commercial houses amounted to $395 billion. A record 15,251 apartments were sold in Beijing in November.Wang Bingnan, vice director of Market Regulation Department of China’s Ministry of Commerce said the national total sales of consumption from January to October 2009 was around $1.46 trillion.
China Daily reports statistics show more than half of the national consumption in 2009 was spent on housing.