China's property investment falls 20.6% y/y in first 9 months

BEIJING: Property investment in China fell 20.6% in the first nine months from the same period last year, widening from the 19.9% drop in January-August, official data showed on Monday.

Property sales by floor area declined 13.2%, following a 12.1% fall in the first eight months.

New construction starts measured by floor area dived 24.9%, compared with a 24.8% tumble in the January-to-August period.

Funds raised by property developers dropped 21.6% after falling 21.0% in the first eight months.