A total amount of housing sale transactions in China has increased by 16% from January to February 2018 compared to the same period last year and amounted to 1.06 trillion yuan ($168 billion), Bloomberg reports.
The news agency has evaluated the data released on Wednesday by the State Statistical Office of the country. According to the report, the growth rates in sales slowed from 21% in December. The slowdown could be attributed to the government's measures against speculative real estate transactions as well as a rapid rise in home prices.
Meanwhile, the volume of land sales, which is an important indicator of the future pace of construction, has increased by 2.9% in annual terms, showing a minimal growth in three months.