nvestment in the real estate sector in Shenzhen rose 1.71% year on year to RMB 38.98 billion during the first 11 months of this year, of which RMB 28.1 billion were invested in residential buildings, according to statistics released by the Shenzhen Municipal Bureau of Land Resources and Housing Management.
During the Jan.-Nov. period, 2.71 million sq m of commercial properties were built, decreasing by 14.63% compared with the same period of last year. Newly built residential buildings also went down by 12.16% to 1.99 million sq m.
Around 3.35 million sq m of commercial properties were sold during the period including 3.10 million sq m of residential buildings, down 37.45% and 35.55% respectively from a year ago.
In November alone, sales volume of newly built property in Shenzhen amounted to 590,000 sq m, representing an increment of 17.3% from the previous month. The total sales revenue increased to RMB 6.93 billion, up RMB 2.43 billion month-on-month.
