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70
million sets of houses in the coming ten years
China is expected to increase 5.5 to 6 billion
square meters' of housing floor space, or 70 million sets of houses in the
coming ten years, said Yang Shen, chairman of China Real Estates
Association.
Statistics from Ministry of Construction show that from 1980 to 2000,
China's real estate industry had kept a rapid growth momentum with
newly-built houses in rural and urban areas to have reached 20.3 billion
square meters, an increase of two folds as compared with the past 30
years.
Chinese government has taken real estates industry as a new drive for its
economic growth, and has taken various measures to support the industry.
So far, total investment in real estate hit 80 billion Yuan in China,
accounting for 25 percent of the social fixed asset investment.
Experts predicted that as people's living condition has been raised
continuously, and housing consumption will become an important motivation
for economic growth. Therefore, to own a spacious and comfortable house
will no longer be a dream for Chinese people, the current housing floor
space for each resident being 20.4 square meters on the average.
According to this development speed, the average floor space for each
house will be increased to 90 - 120 square meters from current 70 meters
and average floor space for each resident will be increased to 35 square
meters.
Experts say that China's real estate market promises a great potential,
but it sees an unbalanced development, and it may incur certain risk
during its rapid development.
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