Real estate market starts to make turnaround in E China province

Photo taken on Jan 1, 2015 shows a commercial apartment project in Huzhou, East China's Zhejiang province.  [Photo/Agencies]

Real estate market in East China's Zhejiang province started to make a turnaround, according to data released by Statistics Bureau of Zhejiang Province. As compared to the first quarter's 16.2-percent growth of investment in property market, the investment in the entire year of 2014 presented a faster pace with a rise of 16.8 percent year on year. Meanwhile, the area of home sales in 2014 declined by 4.3 percent year on year, a sharp contrast with the first quarter's 16.8 percent. Home sales in Zhejiang climbed fast after home-purchase restrictions were fully abolished in August, with sales up 14.6 percent to 26.29 million kilometers in the last five months or monthly 79.8 percent more over the first seven months.