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Shanghai posts fall in Q1 housing data
By Cao Qian |
April 17, 2012, Tuesday
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Print Edition
Print Edition
SALES of new homes fell in Shanghai in the first quarter of this year while the construction of new residential developments in the city also declined.
Between January and March, new homes sold across the city totaled 2.75 million square meters, an annual drop of 10 percent, according to a statement posted on Shanghai Statistics Bureau's website.
The construction of new housing developments in the city fell 25 percent on an annual basis to 5.09 million square meters.
Investment in real estate development edged up 0.7 percent year on year to 47.18 billion yuan (US$7.5 billion) during the first three months. It accounted for 52 percent of the city's total fixed-asset investment, according to the bureau.
Between January and March, new homes sold across the city totaled 2.75 million square meters, an annual drop of 10 percent, according to a statement posted on Shanghai Statistics Bureau's website.
The construction of new housing developments in the city fell 25 percent on an annual basis to 5.09 million square meters.
Investment in real estate development edged up 0.7 percent year on year to 47.18 billion yuan (US$7.5 billion) during the first three months. It accounted for 52 percent of the city's total fixed-asset investment, according to the bureau.
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