Sales of homes in Beijing tumbled in 2011 responding to the government's
policies aimed at slowing down the growth of the sector. Beijing's new house
sales fell by 18.4% on yearly basis in 2011, according to Beijing News. Existing
home sales dropped 38.2% last year, approaching three-year low. Real estate
industry is expected to see further growth contraction as the government decided
to maintain its policies unchanged in 2012.
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