Business

China January-April property investment up 21.6% year-on-year, cooling from first quarter

FILE PHOTO: File photo of an excavator at a construction site of new residential buildings in Shang
An excavator is seen at a construction site of new residential buildings in Shanghai in this Mar 21, 2016, file photo. (Photo: Reuters/Aly Song)
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BEIJING: Real estate investment in China rose 21.6 per cent in the first four months of 2021 from a year earlier, cooling from a 25.6 per cent gain seen in the first three months, official data showed on Monday (May 17).

Property sales by floor area grew 48.1 per cent year-on-year, slowing from a 63.8 per cent rise in the first quarter of the year, the National Bureau of Statistics (NBS) said in a statement.

New construction starts measured by floor area rose 12.8 per cent from a year earlier, compared with 28.2 per cent growth in the January to March period.

Source: Reuters/kg