Growth of real estate investment slows
August 25, 2014 Category Real estate, Weekly
The growth of China’s real estate investment continued to slow in July, latest data from the National Bureau of Statistics (NBS) showed. Property investment rose 13.7% year-on-year in the first seven months to CNY5.04 trillion, 0.4 percentage points down from the first half of this year. The investment in residential properties, which accounted for 68.2% of the total, rose 13.3% year-on-year, compared with a 13.7% growth for the first six months of 2014. The slower growth accompanied a faster fall in area and volume of property sales. In the first seven months, 564.8 million square meters were sold, down 7.6% year-on-year. The drop was 1.6 percentage points steeper than the decline seen in the first half of the year. Property sales volume fell 8.2% on year during this period, compared with a drop of 6.7% in the January-June period. China’s property sector has been cooling since the start of the year, with the growth of key indicators such as property investment slowing for six straight months.
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