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Real estate climate index down
(Xinhua)
Updated: 2005-09-16 16:01

China's real estate climate index stood at 101.86 points in August, the same level as in July but 3.10 points lower than a year earlier, according to a report released here on Friday by the National Bureau of Statistics.

The real estate climate index is a composite index reflecting the current situation and development trend of the real estate market in China.

According to the report, five sub-indices rose in August from the previous month, including the development investment in real estate, the source of capital this year, the area of land developed, the average sales price of marketable buildings and the floor space of buildings under construction, with the index of the floor space of marketable yet unsold buildings down.

In the first eight months of this year, the national average price for commercial housing dropped 1.96 points year-on-year. By the end of August, there were 108 million square meters of commercial housing left unsold and unused, up 10.5 percent year-on-year.

The report also reveals that 1.31 billion square meters of houses have been constructed during the January-August period, up 18.9 percent year-on-year. In addition, 110 million square meters of land has been developed, down 2.3 percent year-on-year.

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