China’s property investment falls 10.3% y/y in Jan-Oct

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2024.11.14 21:08

BEIJING (Reuters) – Property investment in China fell 10.3% in the first ten months of 2024 from a year earlier, after dropping 10.1% in January-September, National Bureau of Statistics (NBS) data showed on Friday.

Property sales by floor area in January-October fell 15.8% from a year earlier, versus a 17.1% drop in January-September.

© Reuters. FILE PHOTO: Residential buildings are seen along the Fourth Ring Road in Beijing, China July 16, 2018. REUTERS/Jason Lee/File Photo

New construction starts measured by floor area declined 22.6% on year, after a 22.2%% drop in the first nine months.

Funds raised by China’s property developers were down 19.2% from a year earlier after a 20.0% fall in January-September.

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