Monday, 31 December 2012

Guizhou real estate investments rise 60 percent

The real estate market in Guizhou has grown rapidly this year, with expected investments of 140 billion yuan ($ 22.16 billion), a year on year increase of 60 percent, as reported by the Guizhou Provincial Development and Reform Commission.

Liu Yuankun, director of Guizhou Provincial Development and Reform Commission, said,"back in 2008, the total value of real estate investments in Guizhou province accounted for half of Guangxi Zhuang autonomous region's property market (half of Yunnan province's and one third of Chongqing's). This year, the value will reach a similar value for Guangxi and Yunnan, which equates to half of Chongqing's real estate investments."

Guizhou has accelerated public housing construction. The target number of public housing projects for this year would be 100,400 houses, 100,000 homes have already been completed.

Guizhou is among the first batch of trial provinces to exploit the mild slope of low mountains and hills. Statistics show that, Guizhou has been granted construction land of 253.73 square kilometers, including 33.33 square kilometers of mild slope of low mountains and hills.

Guizhou plans to complete the fixed assets investments of 1 trillion yuan in 2013, a targeted increase of 30 percent. Real estate investments could reach 150 billion yuan. It would launchthe start of construction for 250,000 public houses in the coming year and is expected to build 85,000 houses by the end of the year.

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