China’s property investment falls 19.9% y/y in the first 8 months

BEIJING: Property investment in China dropped 19. 9% in the first eight months from the same period last year, compared with the 19. 2% fall in January-July, official data showed on Tuesday. Property sales by floor area declined 12. 1% after a 11. 8% drop in the first seven months. New construction starts measured by floor area tumbled 24. 8%, versus a 24. 0% plunge in the January-to-July period. China’s property crisis grinds on after Evergrande sentencing Funds raised by property developers declined 21. 0% after falling 20. 3% in the first seven months.

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