BEIJING: Property investment in China fell 10.1 per cent in the first half of 2024 from a year earlier, matching a figure in January-May, suggesting the sector is still not out of the woods despite mounting policy support.
Property sales by floor area in January-June fell 19.0 per cent from a year earlier, shallower than a 20.3 per cent slump in January-May, National Bureau of Statistics (NBS) data showed on Monday.
New construction starts measured by floor area fell 23.7 per cent on year, after a 24.2 per cent drop in the first five months.
Funds raised by China's property developers were down 22.6 per cent from a year earlier after a 24.3 per cent fall in January-May.
Although recent measures are expected to boost demand in major cities, small cities continue to grapple with excessive housing inventory and lukewarm consumption sentiment, underlining a pressing need for more stimulus to revive local economies.