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Chengdu's property investment up 26.6% in Jan-Apr

May. 28, 2012 (China Knowledge) - Chengdu, capital of Sichuan Province, saw property investment reach RMB 49.68 billion in the first four months of this year, reflecting a YoY increase of 26.6%, according to a report released by Chengdu Bureau of Statistics.

The growth was 9.6 percentage points higher than in the period from January to April 2011.

In April 2012, the prices of new residential properties in Chengdu slide 0.9% on a YoY basis, and the decline was nearly unchanged in March 2012. On a MoM basis, the city's prices of new residential properties sank by 0.1%.

For the government initiated low-price mass housing projects , the city had started construction on 21,500 apartments for low-income families as of Apr. 30, 2012, accounting for 49% of its annual target of 44,000 apartments.

In the first four months of this year, Chengdu's fixed-asset investment grew 18.3% from a year earlier to RMB 154.17 billion, of which RMB 61.76 billion was for infrastructure construction, up 29.7% YoY.

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