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Jan-July housing investment up 11.6%

(chinadaily.com.cn)
Updated: 2009-08-10 17:09

Special Coverage: Housing in China Related readings:  Chinese home prices rise 1.0% in July  Analysts refute home loan worries, stress stable home prices  Expert: China's urban home prices have further room to fall

Investment in property development grew 11.6 percent year-on-year to 1.772 trillion yuan in the last seven months, the National Bureau of Statistics said on its website today.

During the same period, floor space under construction totaled 2.51 billion square meters, up 12.5 percent year-on-year. Developers also bought 163.09 million square meter land plots during the first seven month, down 25.8 percent year-on-year.

Developers raised 2.86 trillion yuan in capital from banks, foreign investors, and other sources of money. That figure is a 28.7 percent year-on-year increase.