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Sichuan's property sales down 11% in H1

Aug. 6, 2012 (China Knowledge) - The sales area of properties developed by real estate companies in Southwest China's Sichuan Province fell 11% YoY to 25.26 million square meters in the first half of this year, according to the latest figures released by the Sichuan Statistics Bureau.

The sales area of residential properties saw a decline of 13.4% YoY, reaching 22.4 million sq m.

The province started construction on 42.41 million sq m of properties in the first six months, 0.8% more than in H1 of 2011.

Sichuan's investment in property development grew 16.4% YoY to RMB 155.15 billion in the period, slowing from a 34.8% increase in the corresponding period of last year.

The province's total fixed-asset investment experienced a faster growth of 20.5% in H1, hitting RMB 863.9 billion.

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