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City new home sales drop
By Cao Qian |
August 16, 2012, Thursday
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Print Edition
Print Edition
SALES of new residential developments dipped in Shanghai in the first seven months of this year while new home starts also fell.
Between January and July, new homes sold in the city totaled 8.44 million square meters, an annual decline of 1.6 percent, according to a statement posted on the Shanghai Statistics Bureau's website yesterday.
Local new home starts dropped 24.8 percent on an annual basis to 9.99 million square meters during the same period.
Investment in real estate development, meanwhile, rose 10.7 percent year on year to 123.1 billion yuan (US$19.4 billion) during the seven-month period. It accounted for 49.3 percent of the city's total fixed-asset investment, according to the bureau.
Between January and July, new homes sold in the city totaled 8.44 million square meters, an annual decline of 1.6 percent, according to a statement posted on the Shanghai Statistics Bureau's website yesterday.
Local new home starts dropped 24.8 percent on an annual basis to 9.99 million square meters during the same period.
Investment in real estate development, meanwhile, rose 10.7 percent year on year to 123.1 billion yuan (US$19.4 billion) during the seven-month period. It accounted for 49.3 percent of the city's total fixed-asset investment, according to the bureau.
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