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Beijing’s home sales plummet in 2011 on curbs

Posted on 03 January 2012

Sales of both new and existing homes in Beijing plummeted in 2011 as a result of the government’s efforts to cool down the runaway property market. New home sales in Beijing dropped 18.4 percent to 90,605 units in 2011 from a year ago, the Beijing News reported Monday, citing data from the city’s housing regulator.
In terms of square footage, sales slumped 22.4 percent to 9.56 million square meters last year, falling below 10 million square meters for the first time in six years, the paper said………………………………………..Full Article: Source


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