May. 15, 2012 (China Knowledge) - Beijing
saw property sales area reach 3.28 million square meters in the first four months of this year, reflecting a year-on-year decline of 10.3%, according to data from the Beijing
Municipal Bureau of Statistics.
Of the total, sales of residential properties declined 3.4% from a year earlier to 2.51 million sq m.
In the four months ended Apr. 30, 2012, the city started construction on 7.43 million sq m of properties, down 18.5% year on year. Of the total, residential properties amounted to 3.61 million, down 36.8% from a year earlier.
Around 2.8 million sq m of properties, including 2.51 million sq m of residential properties, were completed in the four-month period in Beijing
, 5.8% less than in the first four months of 2011.
Property investment in the first four months of this year in Beijing
totaled RMB 65.44 billion, up 1.4% from a year earlier, and the growth was 7.3 percentage points lower than in the same period of 2011. Of the total investments, RMB 30.98 billion was injected into residential properties.