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China’s real estate investment fell 6.4% in the period of January – July from a year earlier to 7.95 trillion yuan, weakening further from 5.4% decline for the first six months of the year, according to the National Bureau of Statistics. Investment in residential properties declined by 5.8% on year in Jan – Jul to 6.02 trillion yuan.
China’s property sales by floor area slid by 23.1% year over year in January – July, with sales of residential properties sliding 27.1%. Property sales by value fell by 28.8% on year, with that for residential properties plunging 31.4%. Fundraising by property developers declined by 25.4% on year to 8.88 trillion yuan, showed the data.
New property construction starts, by floor area declined by 36.1% on year in Jan – Jul, while that for residential properties slid by 36.8%, showed the data. Property construction completions fell by 23.3% on year, with that for residential properties down 22.7%, showed the data.