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Zhejiang sees property prices decline in Feb

Published: 19 Mar 2009 00:57:39 PST

Mar. 19, 2009 (China Knowledge) - Zhejiang Province, a southern coastal area of China, saw a slide in property prices of 0.5% in February compared with January, the fifth consecutive monthly decrease, sources reported.

In the first two months of this year, the property prices and vacancy rate of the province slipped 0.45% and 1.6% year on year, respectively.

From Jan to Feb, Zhejiang, however, recorded an increase of 10.4% in sales area and an increase of 21.6% in sales revenue from the previous year.

In the same period, the province's property investments totaled RMB 21.76 billion, a year-on-year increase of 1.7%. Around RMB 199.93 billion was injected into real estate development in Zhejiang in 2008, 9.8% more than in the previous year.

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