China’s real estate investment remains resilient
Just like most sectors, China’s property market was severely hit by the COVID-19 outbreak in early 2020. From January to May, real estate investments declined by 0.3% y/y. However, China’s real estate market rebounded quickly after the reopening of the economy. From January to October period, property investment grew by 6.3% y/y, proving to be resilient.
As of October 2020, investment in residential buildings jumped by 7% y/y, surpassing the overall growth rate. The strong recovery of the residential building investment was supported by robust sales.
Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q4 2020 report.