Homebuyers visit a real estate show in Beijing. [Photo/China Daily]

China's real estate sales have reached 10 trillion yuan ($1.48 trillion) in the first 11 months of 2016, China's National Bureau of Statistics announced on Dec 13.

The sales have surged 37.5 percent year-on-year, with a 24.3 percent growth in floor area sales. China's annual property sales have surpassed the GDP of South Korea ($1.38 trillion), Australia ($1.34 trillion), and Russia (1.33 trillion), in 2015.

More than 20 major Chinese cities have introduced or resumed property market curbs since autumn as home prices have risen too sharply.