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China’s 2015 property investment growth dips to 7-year low

by ChemOrbis Editorial Team -
  • 21/01/2016 (14:06)
According to media reports, data from the National Bureau of Statistics (NBS) showed that property investment growth in China slowed to 1%, posting the slowest pace of growth since February 2009. Analysts commented that property investment may dip into negative territory next year.

In 2014, China’s real estate investment had expanded 10.5%. Real growth adjusted for inflation, meanwhile, grew 2.8% in line with softer prices for construction materials compared with 9.9% in 2014.

The data also revealed that new housing starts fell 14% as developers were still disposing of excess inventories of unsold homes. Inventory floor area was reported 15.6% higher compared with the same period of last year, but down from a 16.5% increase in November. According to some economists, the decline in new starts may hit 20% in 2016 as developers struggle to sell off excess inventory.

Total property sales reached 1.3 billion square meters in December, up 17.6% from November and 6.5% compared with the same period of 2014.
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