Guangdong Sees Property Investment Shrink 13% in Jan-Apr

Source: China Knowledge

Guangdong Province saw property investment total RMB 65.85 billion in the first four months of this year, a year-on-year decline of 13.3%, according to figures published by the Guangdong Statistics Bureau on May 19.

In the period from January to April, the province's expenditures for land purchases reached RMB 6.67 billion, a decrease of 49.3% year on year. Construction engineering cost RMB 46.17 billion, a year-on-year decline of 7.1%. Disbursements for equipment purchases fell 28.7% to RMB 1.09 billion.

In the first four months, the capital allocated to property investment in Guangdong increased 13.3% year on year to RMB 137.22 billion. Domestic loans amounted to RMB 34.27 billion, up 5.7% year on year. Foreign loans stood at RMB 1.58 billion, down 19.4% year on year. Self-raised funds of property firms declined 7.2% to RMB 39.30 billion and other funds swelled 40% to RMB 62.07 billion.

In the same period, the province recorded a property transaction volume of 1,623.06 sq m, a growth of 46% year on year. The average property price was RMB 6,017 per sq m, up 3.7% or RMB 215 per sq m year on year.

Guangzhou, the capital of Guangdong Province, saw property transactions totaling 2.71 million sq m in area and RMB 21.58 billion in value, an increase of 30.8% and of 14.5% year on year, respectively.

[More Guangdong and Pan PRD News]

Editor: Zhu Yanshan