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Housing prices up 14.4 pct

www.chinanews.cn 2005-03-05 10:12:52

(Source: Xinhua)

Mar. 5 - China witnessed a booming housing market in 2004, with 382
million square meters of housing sold, an increase of 44.12 million from
the previous year.
By the end of 2004, the vacant floor space of housing dropped 8.3 percent
to 123 million square meters. Vacant space of resident housing dropped
15.6 percent to 74.05 million square meters, but that of business housing
rose 5.2 percent.
Investment in real estate jumped 28.1 percent to 1.31 trillion yuan
(about 158 billion US dollars) last year, with 604 million square meter
floor space of housing put to construction and 425 million completed, up
10.4 percent and 2.1 percent, respectively.
However, the land developed by real estate businesses last yeardropped
11.4 percent to 223 million square meters, the report said.

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