Jul. 6, 2009 (China Knowledge) - Shenzhen, a major city of Guangdong Province, saw the average price of new apartments hit RMB 14,823 per square meter (sq m) in June, a year-on-year increase of 32.83% or a month-on-month increase of 18%, according to statistics released by the Shenzhen Municipal Bureau of Land Resources and Housing Management.

The average price of new apartments in Shenzhen was RMB 11,459 per sq m in January, RMB 10,700 per sq m in February, RMB 10,971 per sq m in March, RMB 12,203 per sq m in April, and RMB 12,550 per sq m in May.

In the first half of this year, the average price of new apartments in Shenzhen was RMB 12,129 per sq m, a year-on-year decline of 5%.

Last month, the city sold 664,100 sq m of new apartments, a sharp year-on-year growth of 118%. In the first six months of this year, the city sold a total of 3.8 million sq m of new apartments, a sharp year-on-year growth of 146%.

In the period from January to May, Shenzhen's total property investment amounted to RMB 14.55 billion, a year-on-year decrease of 9.8%. In the same period, the city started the construction of 27.26 million sq m of properties, a year-on-year increase of 0.5%. Construction of residential properties amounted to 18.15 million sq m, a year-on-year decline of 4.4%, sources reported.