Shanghai's property sales down 16.5% in Jan-Nov
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Shanghai's property sales down 16.5% in Jan-Nov
Dec. 19, 2011 (China Knowledge) - Shanghai saw its sales area of properties fall 16.5% year-on-year to 14.98 million square meters in the first 11 months of this year, according to the latest statistics released by the Shanghai Statistics Bureau.
The sales area of residential properties declined 16.5% year-on-year, reaching 12.12 million square meters.
During the period from January to November, the city's investment in real estate development rose 9.3% year-on-year to RMB 199.58 billion, accounting for 45.9% of its total fixed-asset investment.
The city started construction on 32.95 million sq m of properties in the first 11 months, 25.8% more than that in the same period of last year. The figure included 21.87 million sq m of residential properties, reflecting an increase of 19.1% year-on-year.
Meanwhile, 16.72 million sq m of properties were completed during the period, surging 23.5% year-on-year.
The sales area of residential properties declined 16.5% year-on-year, reaching 12.12 million square meters.
During the period from January to November, the city's investment in real estate development rose 9.3% year-on-year to RMB 199.58 billion, accounting for 45.9% of its total fixed-asset investment.
The city started construction on 32.95 million sq m of properties in the first 11 months, 25.8% more than that in the same period of last year. The figure included 21.87 million sq m of residential properties, reflecting an increase of 19.1% year-on-year.
Meanwhile, 16.72 million sq m of properties were completed during the period, surging 23.5% year-on-year.