Reuters are reporting that China’s property investment growth quickened to 6.2% in the first three months of 2016, as national sales growth accelerated to near three-year high.
Area of property sold in Q1 rose 33.1%, compared to 28.2% in the first two months of 2016, the highest since May 2013.
The growth in real estate investment, a major driver of the economy which affects more than 40 other sectors including cement, was up from an increase of 3% in the January - February period.
China's largest commercial developer Dalian Wanda Commercial Properties did announce last month however that it would scale back investment and construction in third and fourth-tier cities because of oversupply.
Edited from source by Joseph Green. Source: Reuters
Read the article online at: https://www.worldcement.com/asia-pacific-rim/19042016/china-q1-property-investment-speeds-931/
