The investments in the real estate on the increase to the first quarter
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August 26th, 2008
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In spite of the government’s efforts to cool the market of the real estates in China, the capital in the sector increased distinctly to the first quarter of this year, announced Tuesday the Commission of state for the Development and the Reform (CEDR).
Between January and March, the real estate sector in China used 354,4 billions of yuans (46 billions of dollars), on the increase of 26.9% in yearly basis. The growth rate was of 6.7 points of percentage superior to the one of last year and of 1,6 point of percentage superior to the one of the investments in stationary capital in the urban regions.
To the first quarter, 712.5 billions of yuans (92.5 billions of dollars) have been recorded for the real estate development, on the increase of 26.3%.
The total included 13.1 billions of yuans (1.7 billion of dollars) of foreign funds, in increase of 154%, of which 10.26 billion yuans (1.33 billion dollars) of foreign direct investments, on the increase of 193%.
The total capital injected to the development of the real estate also consisted of 163.4 yuans (21.2 billion dollars) of banking loans for the developments of the projects, on the increase of 18.4%, and 74.5 billion yuans (9.7 billion dollars) of mortgage loans for the individual purchasers of lodgings, on the increase of 73.2%, according to the CEDR.
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