[photopress:Beijingrealestate.jpg,full,alignright]About 64.22 billion yuan (US$8 billion) of non-governmental investment has been thrown into the real estate market in Beijing in the first seven months of this year according to statistics released by Beijing Municipal Statistic Bureau (BMSB). Non-governmental investment also accounted for more than 80 per cent of 79.76 billion yuan injected into Beijing´s real estate projects in the January/July period.
Xiao Jincheng, an expert with the National Development and Reform Commission, said, ‘It is the undersupply and hiking housing prices that lure more and more private enterprises into the real estate market because real estate investment is largely regarded as a good way for preserving value’.
Source: Property Report