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Guangdong's property sales down 12.4% in Jan-May

Jun. 19, 2012 (China Knowledge) - The sales area of properties developed by Guangdong real estate developers fell 12.4% YoY to 22.49 million square meters in the first five months of this year, according to the latest statistics released by the Guangdong Statistics Bureau.

The decline was 1.5 percentage points less than that in the first four months.
Real estate developers reaped a total of RMB 182.36 billion from property sales in the period, 8.0% less than in the same period of 2011, after seeing a 14.5% drop in the first four months.
The province's investment in property development grew 13.8% YoY to RMB 170.88 billion from January to May, slowing from a 15.1% increase in the first four months.  The figure included RMB 120.30 billion investment in the development of residential properties, reflecting a growth of 11.3% YoY.

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