China Travel & Tourism News
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Development of commercial property in China to peak in 2008
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| 26-Sep-2006 - peopledaily |
The development of commercial real estate in China will peak around 2008, according to a report released by the General Chamber of Commerce on September 23.
The report says the development of commercial real estate in China is currently in a period of high growth, with an average annual increase in investment of 28.9 percent and an increase in construction of 28.4 percent for the last five years.
The area of vacant buildings solely for commercial use reached 3.872 million square meters in 2005, accounting for 27 percent of the total vacant area of commercial property. Furthermore, its rate of growth was 7.5 percent higher than that of commercial residential property.
The report also noted that excessive development of the commercial property market will have a negative effect.
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| 26-Sep-2006 - peopledaily |
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