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Beijing's property sales area down 10.3% in Jan-Apr

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.

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