Aug. 17, 2012 (China Knowledge) - The sales area of properties developed by Beijing
's real estate developers experienced a faster growth of 21.7% YoY in the first seven months, reaching 8.19 million square meters, according to the latest statistics released by the Beijing Statistics Bureau.
The sales area of residential properties grew 31.2% YoY to 6.21 million sq m, and that of office properties increased 8.7% YoY to 1 million sq m.
The sales area of commercial properties experienced a decline of 7.4% YoY, hitting 579,000 sq m in the first seven months.
During the period from January to July, the city's investment in property development increased 3.9% from the corresponding period of 2011 to RMB 162.44 billion, including RMB 81.17 billion in investment in residential properties, reflecting a decline of 11.5% YoY.
The city completed RMB 45.32 billion investment in government-supported housing projects, 23.7% more than that in the same period of last year.