China’s real estate investment, property sales slid at faster pace in Jan – May
DATA MACRO REAL ESTATE
China’s real estate investment, property sales slid at faster pace in Jan – May
DATA MACRO REAL ESTATE

China’s real estate investment, property sales slid at faster pace in Jan – May

 

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China’s real estate investment declined by 7.2% in Jan – May from the same period last year, widening from the 6.2% drop during the first four months, according to data released by the National Bureau of Statistics on Thursday. Of that, residential property investment fell 6.4%, showed the data.

New construction starts of real estate projects, by floor area, reached 397.2 million square meters, sliding 22.6% in Jan – May from a year earlier, while new property completions reached 278.3 million square meters, rising by 19.6% from a year earlier, according the data.

Of that, new construction starts of residential property projects slid 22.7% and new completions of residential property projects rose by 19%, showed the data. 

China’s property sales, by floor area, reached 464.4 million square meters in Jan – May, falling by 0.9% from a year earlier, compared to the 0.4% drop for Jan – Apr, and of that, residential property sales grew by 2.3%, according to the NBS.

The value of China’s property sales reached 497.87 million yuan, rising by 8.4% from a year earlier, compared to 8.8% growth for Jan – Apr, and of that, residential property sales grew by 11.9%, showed the data.