Left Menu
Development News Edition

China Jan-May property investment cools, sales drop

Reuters | Beijing | Updated: 14-06-2019 12:58 IST | Created: 14-06-2019 12:31 IST
China Jan-May property investment cools, sales drop
For January-May, property sales by floor area fell 1.6% in annual terms, deepening from a 0.3 per cent decline for January-April, the National Bureau of Statistics (NBS) said in a statement. Image Credit: Pixabay

China's real estate investment rose 11.2% in the first five months of the year in annual terms, slowing from 11.9% in the January-April period, official data showed on Friday. It was the slowest pace seen since 2018 when it grew 9.5% in the January-December period.

For January-May, property sales by floor area fell 1.6% in annual terms, deepening from a 0.3 per cent decline for January-April, the National Bureau of Statistics (NBS) said in a statement. The real estate market, a crucial driver of growth for China, has shown some signs of recovery in recent months as some local governments loosen investment restrictions to support a slowing economy. Analysts say official efforts to boost economic momentum could continue propping up the market.

The picture is very uneven, however, as a slowdown has been felt deeply in many provincial cities in China after the real estate market suffered a downturn in late 2018. Price cuts offered by developers have led to protests by angry buyers, making authorities wary of the risk of social unrest.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Public health care post-COVID 19 to go for revamping, not rebooting

Until now, the economies used to classify healthcare sector under social expenditure. However, the devastation caused by COVID 19 pandemic has upgraded public healthcare on topmost priority and core economic activity for controlling future ...

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...


Latest News

Nigeria orders 14-day cessation of movement in Lagos, Abuja

Nigerian President Muhammadu Buhari on Sunday ordered the cessation of movement in Lagos and the capital Abuja for 14 days.In a televised address, Buhari said the restrictions would begin at 11 p.m. 2200 GMT on Monday, March 30. He said the...

Angola announces first two coronavirus deaths

Angola has recorded its first two deaths from coronavirus, out of the seven confirmed cases in the southwestern African country, health minister said SundayWe now have seven confirmed cases and unfortunately two people lost their lives betw...

FunPlus Phoenix swap Swole Patrol for Bad News Bears roster

FunPlus Phoenix will compete Sunday in Flashpoint 1, Phase 2 with the roster of the former Bad News Bears, the organization announced. Its the latest shift for the Counter-Strike Global Offensive team in what has been a frantic week.China-b...

Workers from West Bengal stranded in Kerala amid nationwide lockdown

Amid the nationwide lockdown in the backdrop of coronavirus pandemic, around 200 workers from West Bengal are stranded here. We do not have money. Our employers have refused to pay us wages during this lockdown. We want the government to he...

Give Feedback