Real estate floor area sold in China 2023, by use
In 2023, with nearly 948 million square meters of floor space sold, residential properties accounted for around 85 percent of all floor space traded in the Chinese real estate market. The remarkable performance of the housing market led to a strong sense of speculation among the Chinese population, with people treating residential housing no longer as a commodity, but as an investment. The rising prices of residential properties in many major cities in the country are becoming potentially harmful to the long-term development of the Chinese economy.
