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Guangdong's property sales up 6.0% in 2011

Jan. 30, 2012 (China Knowledge) - The sales area of properties developed by Guangdong real estate developers rose 6.0% year on year to 77.61 million square meters last year, according to the latest statistics released by the Guangdong Statistics Bureau.

The growth rate was 1.9 percentage points higher than that in 2010, but 11 percentage points lower than that in the first half of 2011, said the bureau.

Real estate developers reaped a total of RMB 617.56 billion from property sales last year, 12.8% more than in 2010, but the growth rate was 46.6 percentage points lower than that in the preceding year.

The province's investment in property development surged 33.9% year on year to RMB 489.92 billion in 2011, accelerating from a 25.2% increase in 2010. The investment in housing development for low-income residents soared 92.6% to RMB 4.75 billion last year.

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