Property development investment in Xi'an picks up     Updated: 2020-07-15

From January to May, investment in property development in Xi'an -- capital of Northwest China's Shaanxi province -- continued to pick up and investment in real estate increased month by month, according to local officials.

During the period, the investment in property development in the city reached 76.71 billion yuan ($10.96 billion), a year-on-year increase of 1 percent.

The growth rate increased by 0.4 and 2.6 percentage points from January to April and from January to March, respectively.

However, while investment was up, sales were down. In the first five months of the year, 6.6 million square meters of newly developed real estate was sold in Xi'an, a year-on-year decrease of 17.5 percent.

That included 5.13 million sq m of residential sales, 782,200 sq m of office buildings and 318,400 sq m of commercial and shopping space.

As of the end of May, the area of commercial and shopping space for sale in the city was 1.84 million sq m, a decrease of 10,800 sq m from the end of April, officials said.