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Beijing's property sales grow 30.4% in Jan-Oct

Nov. 13, 2012 (China Knowledge) - The sales area of properties developed by Beijing's real estate developers experienced a faster growth of 30.4% YoY in the first ten months, reaching 13.13 million square meters, according to the latest statistics released by the Beijing Statistics Bureau.

The sales area of residential properties surged 45.4% YoY to 10.13 million sq m from January to October.

The city's investment in property development decreased 2.6% from the corresponding period of 2011 to RMB 251.86 billion in the first ten months.

The city completed RMB 63.85 billion investment in government-supported housing projects, 7% more than that in the same period of last year.

As of the end of last month, Beijing had 123.65 million sq m of property under construction, 10.4% more than a year earlier.

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