[photopress:property_real_estate.jpg,full,alignright]According to a recent online survey showed that amid surging house prices, the nation’s real estate industry is widely considered as the nation’s most lucrative.
The survey, co-launched by the Shanghai-based Oriental Morning Post and Sohu.com, sought the ten most profitable industries in 2008 among 26 listed.
According to nearly 4,000 online votes, the real estate industry is indisputably the most profitable.
The runners up in the most profitable industries stakes were glass making and selling, cemeteries, telecommunications, pharmacies, expressways, cosmetics, education, wedding photography, and online games.
The real estate industry received 26% of votes as the most profitable in the survey. Those are just votes, expressions of opinion. But they are well supported by the figures.
According to data released by the National Bureau of Statistics, average property prices in China’s 70 major cities last year rose 7.6% year-on-year. House rentals rose 2.6%. The statistics also showed that property investment in these cities totaled RMB2.528 trillion ($356.06 billion), up 30.2% year-on-year.
As a result, there are more billionaires in real estate than any other industry.