The investment on real estate industry will resuscitate after one-year gloomy climate

Sources: The Ningde Nights 25^th January 2006

The real estate market of this city has been in the gloomy situation for a almost one whole year. The investment on real estate market experienced some growth finally after a long period of decrease since November 2005. The total completed investment on the real estate industry reached 1.698 billion RMB in 2005 with a growth by 4.8%. The total investment in November and December reached 58.5 million RMB taking up 34.5% of the total investment of the whole year. 

According to some research, due to the effect of the macroeconomic adjustment and controlling polices on the real estate market stabling the market prices, the total investment on the city real estate market decreased accordingly. Most real estate developers hold the attitude of speculation and observation instead of investing. They also seriously reconsidered their develop pace, which ended up some major projects under construction were pulled off, while some other investments were delayed. In all, the total investment on real estate market during the first 10 months decreased distinctly with a total value at 1.11 billion RMB. The average investment per month therefore was down to only 10 million RMB. The same situation was observed in buyers who also held the attitude of speculation and observation instead of purchasing. Meanwhile, the trading on second-hand realties also decreased cooling off the market sales. 

Since the beginning of November, the gloomy situation was finally broken with the great sales record of the Donghu Haoting Residential Community in the downtown. Stimulated by this sales promotion, other big developers such as Mingdong Square, Donghai Fortune Community and China Red also launched another round of promotion and sales. At the same time, the investment on real estate market also resuscitated reaching up to the peak record since the gloomy period.