Shanghai Real Estate News

Source: China Knowledge | Posted: May 17th 2013

Shanghai saw its sales area of properties surge 51.1% YoY to 6.69 million square meters in the first four months of this year, according to the latest statistics released by the Shanghai Statistics Bureau.

The sales area of residential properties experienced a strong growth of 46.3% YoY, reaching 5.74 million square meters.
 
During the period from January to April, the city's investment in real estate development rose 28.5% YoY to RMB 78.79 billion, accounting for 57% of its total fixed-asset investment.
 
The city started construction on 7.88 million sq m of properties in the first four months, 17.3% less than that in the same period of last year. The figure included 4.67 million sq m of residential properties, reflecting a decrease of 19.2% YoY.
 
Meanwhile, 8.8 million sq m of properties was completed during the period, jumping 46.3% YoY.