In the Jan.-Dec. Period of 2008, China saw a combined investment of RMB 3,058 billion in real estate development, growing 20.9% year on year, with the growth rate falling 1.8 percentage points in the Jan.-Nov. period. Among the combined investment, the residential real estate investment amounted to RMB 2,208.1 billion, rising 22.6% over a year earlier, with the growth rate
declining 2.6 percentage points, and accounting for 72.2% of the real estate investment.
In the same period, Chinese real estate developers witnessed a total floor space of 2.74 billion square meters under construction, growing 16.0% from a year earlier; a newly commenced floor space of 980 million square meters, increasing 2.3% compared to 2007; and a completed floor space of 590 million square meters, falling 3.5%. The floor space of the residential real estate completed was 480 million square meters, reducing 4.2%. Chinese real estate developers bought 370 million square meters of land, down 8.6% year on year, and completed a land development area of 260 million square meters, down 5.6% year on year.
