Apr
14
China’s March Home Sales Surge 71%, Lifting Property Investment
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Value of homes sold climbed to 869.8 billion yuan in March
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Real estate investment up 6.2 percent in the first quarter
China’s home sales jumped 71 percent in March from a year earlier, while investment in real estate development continued to climb, a sign that authorities’ efforts to bolster the industry are bearing fruit.
The value of homes sold climbed to 869.8 billion yuan ($134.1 billion) in March, according to Bloomberg calculations based on statistics bureau data released on Friday. It the biggest year-on-year increase since at least 2015. Investment in real estate development surged 6.2 percent in the first quarter from a year earlier, extending the increase from the first two months when it reversed a two-year falling streak to gain 3 percent…
China’s March Home Sales Surge 71%, Lifting Property Investment
