Hainan's property investment hit RMB 8.58 bln in Jan-May

Published: 24 Jun 2009 23:39:13 PST

Top 5 News From ChinaKnowledge.com

Shanghai GM's Buick sales hit 2 mln
China's GDP likely to grow nearly 8% in Q2
BYD sells 144,741 vehicles in Jan-May
CPC in talks to buy LNG from Exxon Mobil
Shanghai Electric receives order from Siemens

Jun. 25, 2009 (China Knowledge) - Hainan Province saw property investment total RMB 8.58 billion in the first five months of this year, a year-on-year increase of 49.1%, and overseas investment in the real estate market amounted to RMB 208 million, according to the Hainan Statistics Bureau.

During the period from January to May, residential property investment increased 49.2% year on year and amounted to RMB 7.72 billion, RMB 3.8 billion of which was spent on construction of apartments with a floor area of less than 90 square meters (sq m) each.

Real estate investment totaled RMB 2.61 billion in Haikou, the capital of the province, RMB 3.01 billion in Sanya and RMB 1.33 billion in Qionghai.

In the first five months, the province sold 1.75 million sq m of property for more than RMB 10 billion in total.

In May, real estate investment in Hainan reached RMB 2.1 billion, of which RMB 2 billion was invested in residential property development. The province sold 440,000 sq m of commercial property for more than RMB 2.3 billion.

Copyright © 2009 www.chinaknowledge.com