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Beijing’s commercial housing sales down 12 pct in first three quarters

Posted on 25 October 2011

Commercial housing sales in Beijing fell 12 percent year-on-year in the first three quarters of the year, a sign that the red-hot property market has begun to cool down, the municipal statistics bureau said Monday.

The total area of commercial housing sold slumped to 6.32 million square meters during the January-September period, the Beijing statistics bureau said in a press release. Prices of new homes in the city have shown zero month-on-month growth for four straight months, while prices of pre-owned homes fell 0.4 percent month-on-month in September, according to the National Statistics Bureau………………………………………Full Article: Source


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