Beijing's Real Estate Market Brisk in First Half of 2003

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Last updated at: (Beijing Time) Monday, July 21, 2003

Beijing's Real Estate Market Brisk in First Half of 2003

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The sales value of commercial buildings sold in the first six months in Beijing, the national capital, reached 23.83 billion yuan (about 2.87 billion US dollars), surging 75.5 percent over the same period of last year.

According to a source with the Beijing Municipal Statistics Bureau on Monday, the floor space of the buildings sold totaled 5.166 million square meters, rising 82.3 percent year on year.

The total floor space of the residential apartments sold rose 80.7 percent to reach 4.9 million square meters, with the sales value totaling 21.11 billion yuan, up 68 percent.

During the first half of 2003, a total of 39.47 billion yuan was invested into the real estate sector in Beijing, rising 16.5 percent, and the total floor space of the commercial buildings newly completed reached 4.281 million square meters, an increase of 53.3 percent.

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