Beijing's commercial property sales down 49 pct

Updated 2017-10-24 09:03:14 Xinhua

Commercial property sales in Beijing totaled 5.65 million square meters in the first nine months of this year, down 49.2 percent year on year, according to the latest data released by the local statistics authority on Monday.

Residential housing sales also slowed during the period. Sales, totalling 3.7 million square meters, fell 42.9 percent year on year, said the Beijing Municipal Bureau of Statistics.

The data show that the construction area of commercial property in Beijing was about 115 million square meters during the period, down 8 percent year on year.

In mid March, authorities in Beijing unveiled a spate of measures, including higher downpayments and mortgage rates, to cool down the property market. Prior to that, prices of apartments in many residential areas had doubled since 2015.

Sales fell sharply following the controls and prices of new homes stabilized and those of second-hand homes went from rising to declining.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 22 2018 08:19:35

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 22 2018 08:19:35

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 22 2018 08:19:35

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords