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According to data released by the National
Bureau of Statistics (NBS) on September 9, total investment in real estate
development for the January-August period was CNY 4.37 trillion, up 15.6
percent year-on-year in nominal terms, 0.2 percentage points higher than that
for the January-July period. Investment in residential properties from January
to August grew 10.6 percent year-on-year -- 0.1 percentage points lower than that
for the January-July period – to CNY 3 trillion, accounting for 68.6 percent of
total real estate investment.
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In the first eight months, the construction of
907.55 million square meters of residential properties was started, down 11.1
percent year-on-year. The construction of 358.01 million square meters of
residential properties was completed, up 20.4 percent year-on-year.
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In the same period, real estate developers
purchased 236.24 million square meters of land, down 16.2 percent year-on-year,
compared to a 24.3 percent decline in the January-July period. Land transaction
value amounted to CNY 480 billion, down 7.6 percent year-on-year, compared to a
16.9 percent drop in the first seven months of this year.
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