Industries > Real Estate

China's property development investment down 9 pct in first two months

BEIJING
2024-03-18 10:54

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BEIJING, March 18 (Xinhua) -- Investment in property development in China fell 9 percent year on year to 1.1842 trillion yuan (about 167 billion U.S. dollars) in the first two months of 2024, the National Bureau of Statistics (NBS) data showed Monday.

Investment in the sector maintained a falling trend as sales of newly-built property also fell 20.5 percent year on year in terms of floor area to 113.69 million square meters in the same period.

In terms of value, sales of newly built property fell 29.3 percent year on year to 1.0566 trillion yuan, the data showed.
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