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China's property sales down 11.8% in Jan-Apr

May. 14, 2012 (China Knowledge) - The sales of properties developed by China's real estate companies decreased 11.8% year on year to RMB 1.24 trillion in the first four months of this year, narrowing from a 14.6% decline in the first three months, according to the latest statistics released by the National Bureau of Statistics (NBS).
The country's sales of residential properties declined 13.5% year on year to RMB 1.03 trillion during the 4-month period, and sales of office properties fell 14% to RMB 54.3 billion. Sales of properties for commercial purpose rose 4.2% to RMB 140.9 billion.

Property sales in East China saw a decline of 15.4% year on year, hitting RMB 750.8 billion. Property sales in Central and West China slide 12.0% and 10.7% year on year to RMB 223.6 billion and RMB 267.7 billion, respectively.

Real estate developers in China sold 215.62 million square meters of properties during the period from January to April, down 13.4% compared with the corresponding period of 2011.  

The NBS said the country's investment in the property development saw a slower growth of 18.7% year on year to RMB 1.58 trillion in the first four months, of which RMB 1.08 trillion was for residential property development, 13.9% more than that in the same period of last year.

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