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China’s real estate investment and sales slow in October

by ChemOrbis Editorial Team - content@chemorbis.com
  • 14/12/2015 (12:07)
According to data from China’s National Bureau of Statistics (NBS), property investment and sales in the country posted a slower yearly growth rate in October, indicating that the property market continues to face a slowdown. Property investment grew 2.0% in the January-October period from a year earlier, which is slower than the growth rate of 2.6% in the first nine months of the year and also the slowest rate seen since early 2009.

Meanwhile, the floor area of properties sold grew 7.2%, slightly down from January-September period’s growth of 7.5%. However, new construction declined 13.9% from a year earlier, which is higher than the yearly drop of 12.6% in the first nine months.

Over the past months, home sales and prices have been supported by government stimulus measures, although most analysts feel that the property market is unlikely to see a real turnaround over the short term.
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