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.

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Funds raised by property developers declined 21.0% after falling 20.3% in the first seven months.