China’s property investment falls 10.4% y/y in Jan-Nov

BEIJING (Reuters) – Property investment in China fell 10.4% in the first eleven months of 2024 from a year earlier, after dropping 10.3% in January-October, National Bureau of Statistics (NBS) data showed on Monday.

Property sales by floor area in January-November fell 14.3% from a year earlier, versus a 15.8% drop in January-October.

New construction starts measured by floor area declined 23.0% on year, after a 22.6% drop in the first 10 months.

Funds raised by China’s property developers were down 18.0% from a year earlier after a 19.2% fall in January-October.