In the first four months of 2024, property investment in China declined by 9.8% compared to the previous year, following a 9.5% drop in the first quarter. This suggests that despite extensive policy support, the property sector continues to face challenges without reaching its lowest point.
During January to April, property sales by floor area decreased by 20.2% year-on-year, slightly more than the 19.4% decline observed in the January-March period, according to data from the National Bureau of Statistics (NBS).
New construction starts, measured by floor area, fell by 24.6% year-on-year, moderating from a 27.8% decrease in the first three months of the year.
Furthermore, funds raised by China's property developers decreased by 24.9% year-on-year, following a 26.0% decline in January-March.
Paraphrasing text from "Reuters" all rights reserved by the original author.
