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Jiangsu's property investment up 29.2% in 2011

Jan. 31, 2012 (China Knowledge) - East China's Jiangsu Province saw its property investment surge 29.2% year on year to RMB 555.27 billion in 2011, according to the latest statistics released by the Jiangsu Statistics Bureau.

The growth rate showed a slowdown from a 33.9% increase in the first quarter, 33.8% in the second quarter and 33.6% in the third quarter, but was 7.7 percentage points higher than the increase in fixed-asset investment in the province last year.

The province's investment in the residential properties grew 29.4% year on year to RMB 408.59 billion, accounting for 73.6% of the total.

Investment in office properties jumped 32.6% year on year to RMB 20.51 billion, and that in commercial properties rose 19.5% to RMB 73.04 billion.

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