Investment in urban property development in China rose 16.1% in 2009 but slowed from the growth in the 11 months ended Nov. 30.
In other words it is still rocketing up, but not quite as fast. It may indicate the effect of tightening measures aimed at cooling the country’s overheated property market.
The National Bureau of Statistics said investment in real estate development, one of the main forms of private investment in China, totaled $530.27 billion in 2009. New property construction totaled 1.15 billion square meters, up 12.5% from the previous year.
China said earlier investment in the January-November period rose 17.8% from a year earlier while newly started real estate construction surged 15.8% over the same period.
Wall Street Journal reported that one view was the modest slowdown doesn’t indicate investment in China’s property market investment will fall this year.