China January-June property investment slumps 18 percent y/y

Property investment in China fell 18 percent in the first half of the year compared with the same period last year, expanding from the 16.2 percent drop in January-to-May, official data showed on Wednesday.

Property sales by floor area fell 11.6 percent year-on-year in January-June, after a 10.8 percent decline in the first five months.

New construction starts measured by floor area were down 23.4 percent, after tumbling 22.6 percent in the January-to-May period. 

Funds raised by property developers dropped 20.2 percent, following a 19.0 percent dive in January-May.

Reuters

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