Friday, December 12, 2008

China Property Outlook Index, Home Sales Fall

Source : The Business Times, December 12, 2008

BEIJING - China's property outlook index, which covers price and investment trends in the sector, fell to 98.46 in November from 99.68 in October and 101.15 in September, the National Bureau of Statistics said on Friday.

The index has been falling since it peaked at 106.59 in November 2007.

The floor area of residential properties sold in the first 11 months of the year was down 18.8 per cent from a year earlier, while their sales value was down 20.6 per cent, the bureau said on its website.

The property outlook index distils trends in investment, prices, and supply and demand in the real estate market into a composite figure representing the sector's overall health.

A reading above 100 indicates positive or improving conditions, while one below 100 indicates negative or worsening ones. -- REUTERS

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