Hainan's property investment totals RMB 19 bln in 1st 9 months

Oct. 26, 2009 (China Knowledge) - Hainan Province saw real estate investment increase 46.7% year on year to RMB 19.06 billion in the first nine months of this year, sources reported.

In the period from January to September, residential property investment grew 56.8% year on year to RMB 17.43 billion.

In the same period, Hainan had 16.91 million square meters of properties under construction, 39.4% more than in the same period of last year. It had 5.31 million sq m of newly started properties, 34.1% more than in the same period of last year.

The province sold a total of 3.46 million sq m of properties in the first three quarters, 29.3% more than in the same period of last year. Sales area of residential properties swelled 31.5% year on year. Property sales revenue grew 43.2% year on year, hitting RMB 20.81 billion, and revenue from the sale of residential properties swelled 45.9% year on year.

Sanya, a major city of Hainan, ranked first in the province with RMB 7.28 billion in property investment in the first three quarters, 28.7% more than in the first three quarters of 2008. Haikou, the capital of the province, ranked second, and saw property investment increase 9.8% year on year, hitting RMB 5.22 billion. Qionghai ranked third and saw investment increase 97.9% to RMB 2.34 billion.

Lingshui and Wanning, which had property investment of RMB 1.12 billion and RMB 1.04 billion, respectively, are the only other regions with over RMB 1 billion in property investment in Hainan in the first nine months.