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Beijing's property sales up 3.1% in Jan-May

Jun. 21, 2012 (China Knowledge) - The sales area of properties developed by Beijing's real estate developers rose 3.1% YoY to 4.66 million square meters in the first five months of this year, according to the latest statistics released by the Beijing Statistics Bureau.
The sales area of residential properties dropped grew 15.4% YoY to 3.60 million sq m, and that of office properties decreased 26.2% YoY to 470,000 sq m.

The sales area of commercial properties experienced a decline of 18.7% YoY, hitting 390,000 sq m in the first five months.

During the period from January to May, the city's investment in property development increased 2.8% from the corresponding period of 2011 to RMB 94.09 billion, including RMB 47.37 billion in investment in residential properties.

The city completed RMB 24.47 billion investment in government-supported housing projects, 16.7% more than that in the same period of last year.

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