China\'s property investment rises 11.6% y-o-y in Jan-Feb

China's property investment rises 11.6% y-o-y in Jan-Feb

Property sales by floor area fell 3.6 percent year-on-year in the January-February period, compared with a 1.3 percent gain in 2018, official data showed.REUTERS  |  March 14, 2019, 17:00 IST
China's property investment rises 11.6% y-o-y in Jan-Feb BY Beijing Monitoring Desk

BEIJING: Real estate investment in China rose 11.6 percent in the first two months of 2019 from a year earlier, accelerating from a 9.5 percent gain for the full-year of 2018, data from the National Bureau of Statistics showed on Thursday.

Property sales by floor area fell 3.6 percent year-on-year in the January-February period, compared with a 1.3 percent gain in 2018, official data showed.

Real estate is a key driver of economic growth but has shown signs of fatigue in recent months due to government curbs on speculative investment, adding to concerns about the already slowing economy.

At its annual session of the National People's Congress last week, China vowed to promote the healthy development of its real estate market in 2019.

Editing by Sam Holmes.