Real Estate Investment Jumps in Jan-Feb, But......

Despite funding troubles for developers, real estate investment jumped in the the January-February period to 9.9 percent, up from the 8.9 percent start to 2017.
However, there are two divergent data points in the NBS report. First is land purchases, which fell 1.2 percent year-on-year, a decline of 7.4 percentage points from the start of 2017.
Second is the drop in floorspace sold to 4.1 percent and sales to 15.3 percent, both well below the start of 2017. The divergence also points to sales shifting towards the luxury end of the spectrum.
It's all about sales now. If they hold up, the real estate market looks healthy. If sales come down, the investment, construction and land sale trends will only worsen.

NBS: 2018年1-2月份全国房地产开发投资和销售情况

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