the property m上海楼凤女神会所arket remained stable overall, with property sales measur
ed by floor area showing negative growth and sale prices registering slower growth.
Between January and May, sales in commercial residential buildings reached 560 million squ
are meters, down 1.6 percent year-on-year. Among them, sales in residential buildings, office buildings and
commercial buildings went down 0.7 percent, 12.2 percent and 12.9 percent respectively.
Land purchase area and land prices experienced big declines. During the first five months, the land a
reas purchased by property developers fell 33.2 percent from a year earlier, the biggest decline since 1998. Mea
nwhile, land prices fell 35.6 percent year-on-year, marking the biggest drop since the data was released in 2004.
Hot investment in residential buildings and sluggish investment in commercial properties still continued.