Increase of Beijing's real estate investment slows down

Investment in Beijing's real estate totaled 87.06 billion yuan (10.51 billion US dollars) during the January-September period, a decline in the rate of increase from 40.6 percent in the first quarter to 20.3 percent, the Economic Information Daily reported Wednesday.

This year, the Beijing government strengthened its supervision of land use and land transactions, said Yu Xiuqin a municipal statistical bureau spokeswoman at a press conference last week.

Influenced by the adjusted land policy, land purchased in Beijing totaled 2.982 million square meters this year, an year-on-year decrease of 63.7 percent, and land developed recorded 1.728 million square meters, an year-on-year decrease of 66.9 percent, statistics from municipal statistical bureau show.

Residential houses remained the leading items in retail sales, according to the bureau. From January to September, 11.305 million square meters' residential houses in Beijing were sold, which registered a sales volume of 57.3 billion yuan (6.9 billion US dollars), up 36.7 percent.