China's property market still strong, despite sales declines in the south
The real estate investment in south China's Guangdong Province surged in the first two months of the year despite lackluster sales, data showed Sunday, Xinhua News Agency reported.
The investment in commercial property soared 40 percent year on year to 54.7 billion yuan (8.7 billion U.S. dollars) in January and February, the Guangdong provincial statistics bureau said in a statement. The rate was 14.8 percentage points higher than a year ago.
The number of commercial property projects under construction amounted to 3,111, 235 more than a year ago, the news agency said, citing the statement.