More local houses sold this year
27/7/2004 11:47
Wendy Zhang/ Shanghai Daily news
A total of 1.0792
million square meters of properties were unsold by the end of last month, down
58.2 percent from the same period last year, according to the Shanghai
Statistics Bureau, the Laodong Daily reported today.
Local real estate
investments hit 50.277 billion yuan (US$6 billion) in the first half of the
year, an increase of 20.4 percent from a year earlier.
Construction of
6.2787 million square meters of properties have been completed in the first six
months of the year, up 14.5 percent from the previous year, with 7.894 million
square meters of residential properties sold, up 14.2 percent.
A series of
government measures have reined in the overheated housing market in
Shanghai.
The average monthly property price increase hit 1.2 percent in the
city for the first six months of the year, down 0.7 percentage point from a year
before. Housing prices in the first half of the year rose by 19.8 percent from a
year earlier, down 1.6 percentage points from last year's price increases.
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