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Shanghai's property sales down 15.9% in Jan-Apr

May. 16, 2012 (China Knowledge) - Shanghai saw its sales area of properties fall at a larger decline of 15.9% YoY to 4.43 million square meters in the first four months of this year, according to the latest statistics released by the Shanghai Statistics Bureau.

The sales area of residential properties experienced a narrowed decline of 8% YoY, reaching 3.93 million square meters.
During the period from January to April, the city's investment in real estate development fell 0.1% YoY to RMB 61.32 billion, accounting for 50.1% of its total fixed-asset investment.

The city started construction on 9.48 million sq m of properties in the first four months, 24.4% less than in the same period of last year. The figure included 5.78 million sq m of residential properties, reflecting a plunge of 33.9% YoY.

Meanwhile, 6.02 million sq m of properties was completed during the period, rising 15.8% YoY.

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