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China's RE market speeds up in June

18 July 17 - RE+D Magazine
China's RE market speeds up in June

COMPANIES

IBI Group

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

Savills

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
China's real estate investment growth sped up in June after slowing in May, suggesting investment in the sector remained resilient even as the government has sought to tame soaring property prices by slapping a flurry of restrictive measures.

 

Growth in property investment, which mainly focuses on residential but also includes commercial and office space, accelerated to 7.9 percent in June from a year earlier, compared to a 7.3 percent expansion in May, according to Reuters calculations based on data from the National Bureau of Statistics (NBS).

But worries over the potential bursting of price bubbles in China's biggest cities have led to a raft of government cooling measures in recent months, as buyer demand appeared to be more resilient than expected.

New construction starts measured by floor area, a telling indicator of developer confidence, rose 10.6 percent in the first half of the year, accelerating from a 9.5 percent rise in the first five months, the bureau said. In June alone, new starts rose 14.0 percent, the highest since October 2016, according to Reuters calculations.

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