China’s property investment rose more slowly in 2020 from a year earlier although the rate of growth remained robust, official data showed on Monday.
Real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year, the National Bureau of Statistics (NBS) said in a statement. But the growth rate was down from 9.9% in 2019.
Property sales by floor area rose 2.6% year-on-year in 2020, faster than a 1.3% rise in January-November, the official data showed.
New construction starts measured by floor area fell 1.2% in 2020 from a year earlier, compared with the 2.0% drop in January-November.
Funds raised by China’s property developers grew 8.1%, up from the 6.6% growth seen in the first 11 months of the year.
