growth of China’s real estate investment continued to slow in July,
latest data from the National Bureau of Statistics showed yesterday.
bureau said property investment rose 13.7 percent year on year in the
first seven months to 5.04 trillion yuan (US$819 billion), 0.4
percentage points down from the first half of this year and 1
percentage point down from the January-May period.
investment in residential properties, which accounted for 68.2
percent of the total, rose 13.3 percent year on year, compared with a
13.7 percent growth for the first six months of 2014.
slower growth accompanied a faster fall in area and volume of
the first seven months, 564.8 million square meters were sold, down
7.6 percent year on year. The drop was 1.6 percentage points steeper
than the decline seen in the first half of the year.
sales volume fell 8.2 percent on year during this period, compared
with a drop of 6.7 percent in the January-June period.
property development climate index compiled by the bureau fell
slightly by 0.02 points from June to 94.82 points in July.
property sector has been cooling since the start of the year, with
the growth of key indicators such as property investment slowing for
six straight months.
home prices in 55 of an official sample of 70 major cities dropped
month on month in June, compared with 35 in May. New house prices
fell in first-tier cities Shanghai, Guangzhou and Tianjin, but not in