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CHINA> National
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Total value of housing in China may exceed 90 trillion yuan
(chinadaily.com.cn)
Updated: 2009-09-15 15:13 The total value of housing in China may be more than 90 trillion yuan ($13.18 trillion), 200 percent more than China's GDP, the China Securities Journal reported.
According to the financial information provider Wind Info, the apartments sold between 2007 and now totaled 1.877 billion sq m. Therefore, the total building area of urban housing in China is 17.51 billion sq m. The China Securities Journal said the average urban housing price is 4,312 yuan (US$631), which means the value of the country's urban housing approximated to 75.5 trillion yuan (US$11.05 trillion). The newspaper estimated the current total area of housing in the rural areas to be 22.8 billion sq m and the total value of rural housing to be 15.98 trillion yuan (US$2.33 trillion). Adding together the value of urban housing and rural housing, the total value of housing in China could be more than 90 trillion yuan. |
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