China's real estate sector has accumulated over 167 million square meters of unused land resources across the country, an alarming sign of house oversupply.   The unused land, accounting for 53.8 percent of the total purchased by house developers in the first 11 months of 2005, would be more than enough for the following year's demand for housing development. The country is confronted with an increasing number of vacant houses. The floor space of the vacant houses in China stood at 114 million square meters by the end of last November, a year-on-year rise of 14.2 percent.     During the January-November period of 2005, the floor space of the houses under construction increased year-on-year by 18.5 percent to 149 million square meters.

(Source: Xinhuanet, 2006-02-07 )