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
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.