China's Jan-May property investment, sales fall at faster pace

BEIJING : Property investment in China fell at a faster pace in January-May, dropping 7.2 per cent from the same period a year earlier, official data showed on Thursday, adding to concerns about the outlook for the world's second-biggest economy.Property sales by floor area declined 0.9 per cent, versus a 0.4 per cent fall in the first four months, according to data from the National Bureau of Statistics .

New construction starts measured by floor area fell 22.6 per cent, after a 21.2 per cent drop in the first four months. Funds raised by China's property developers were down 6.6 per cent after a 6.4 per cent slide in January-April.

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