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Residential buildings are seen along the Fourth Ring Road in Beijing, China July 16, 2018. Jason Lee
Residential buildings are seen along the Fourth Ring Road in Beijing, China July 16, 2018. Jason Lee
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China's Jan-May property investment, sales fall at faster pace

June 15th, 2023 | 02:10 AM MARKETS Asian Markets 1

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By Reuters

Property investment in China fell at a faster pace in January-May, dropping 7.2% from the same period a year earlier, official data showed on Thursday, adding to concerns about the outlook for the world's second-biggest economy.

The figure compared with a 6.2% annual decline in January-April.

Property sales by floor area declined 0.9%, versus a 0.4% fall in the first four months, according to data from the National Bureau of Statistics (NBS).

New construction starts measured by floor area fell 22.6%, after a 21.2% drop in the first four months.

Funds raised by China's property developers were down 6.6% after a 6.4% slide in January-April.

  • Topic
  • CHINA
  • ECONOMY/PROPERTY
  • INVESTMENT (URGENT)
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