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Realty developers invest US$248.4b in 2006

(Xinhua)
Updated: 2007-05-03 09:05

Chinese real estate developers invested 1.938 trillion yuan (about 248.4 billion U.S. dollars) in projects last year, up 21.8 percentyear on year, the Chinese Academy of Social Sciences (CASS) has said.

Among the total investment, input in residential housing projects was 1.9 percentage higher than the figure in 2005, a recent report released by the CASS said.

About 41.8 percent of the investment was used in developing ordinary residential housing projects, 3.6 percent for low-cost housing projects and 7.3 percent for up-market apartment and villas, the CASS report said.