Investment in real estate development increased rapidly in the first seven months of 2011, according to data released by the National Bureau of Statistics yesterday. Investment data revealed that 3.19 trillion yuan was invested in the real estate sector from Jan-Jul, a year-on-year growth rate of 33.6 percent. Of this total, investment in residential properties reached 2.28 trillion yuan, up by 36.4 percent year-on-year. However, according to July housing sales data from "Home Link Real Estate" (鏈家地產), a company that monitors real estate statistics, the amount of residential floor space sold in July was down 34% when compared to June, residential sales by value were also down 30% month-on-month.

Source
Economic Observer Online

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