Beijing commercial property sales fall 45 pct in Jan-Aug

BEIJING: Sales of commercial property in Beijing by surface area fell 44.8 percent in the first eight months of the year to to 5.3 million square metres versus the same period last year, the city’s statistics bureau said.

That included a 39 percent decline in residential property sales to 3.45 million square metres, while office building sales fell by 68.5 percent to 808,000 square metres

Commercial property under construction fell by 5.4 percent to 113.4 million square metres

New construction amounted to 12.5 million square metres, down by 26 percent, while completed property came to 6 million square metres, a drop of 37 percent year on year.- Reuters