China Housing Market (Boom or Bust)

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China's property sales rose 13.3% in first four months
English.news.cn 2011-05-11 11:48:37 FeedbackPrintRSS

BEIJING, May 11 (Xinhua) -- The value of property sales in China during the first four months rose 13.3 percent year on year to reach 1.4078 trillion yuan (about 217 billion U.S. dollars), according to the nation's top statistics authority on Wednesday.

Sales of residential housing rose 11 percent, while office sales and that of business properties rose 23.8 percent, and 26.6 percent, respectively, according to figures released by the National Bureau of Statistics (NBS).

Meanwhile, floor space sold during the period reached 248.98 million square meters, up 6.3 percent compared to the same period last year.

Sold floor space of residential housing rose 5.8 percent, with that of offices and properties for commercial use rose 4.4 percent and 7.7 percent, respectively, the figures show.