China Jan-July property investment up 12.7% y/y, slowing from H1

BEIJING, Aug 16 (Reuters) – Real estate investment in China rose 12.7% in January-July from a year earlier, cooling from a 15% gain seen in the first six months, official data showed on Monday.

Property sales by floor area grew 21.5%, according to data from the National Bureau of Statistics, down from an on-year growth of a 27.7% in the first six months.

New construction starts measured by floor area declined 0.9%from a year earlier, versus 3.8% growth in the first six months of the year.

Funds raised by China’s property developers grew 18.2% in the same period, compared with a 23.5% gain in January-June. (Reporting by Liangping Gao and Ryan Woo; Editing by Sam Holmes)

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