China's first-tier cities Shanghai, Beijing and Shenzhen remain the most attractive destinations for real estate¹ development, according to a report by research institute China Index Academy last Monday.

研究机构中国指数研究院上周一发布的一份报告显示，我国一线城市上海、北京和深圳依然是最具吸引力的房地产开发目的地。

The report, covering 297 cities at prefectural level or above, measured a city's attractiveness to investment in property development based on the market capacity and the potential in price rises.

该报告依据市场容量和增值潜能，对297个地级以上城市的房地产开发投资吸引力进行了排位。

The market capacity is assessed in terms of population, economic strength, wealth, resources, traffic and market size, while the potential in price rises includes factors such as supply, demand, price levels and market heat.

市场容量是根据人口、经济实力、财富水平、资源、交通和市场规模来评估的，而增值潜能的因素则包括供求关系、需求满足度、价格支撑、市场热度。

Tianjin entered the top four for the first time, followed by Guangzhou, Hangzhou and Nanjing.

天津首次进入前4名，广州、杭州、南京紧随其后。

China's investment in real estate development grew 9.3% to 2.77 trillion yuan in the first four months, according to the National Bureau of Statistics.

国家统计局的数据显示，今年1月至4月，我国房地产开发投资增长9.3%，至2.77万亿元。

With demand declining as a result of a raft of measures to cool the property market, investment in real estate development is likely to fall, analysts² said.

分析人士称，随着多项为房地产市场降温的措施使需求减少，房地产开发投资可能会下滑。