China’s home sales worsened in the first three quarters of the year despite Beijing’s measures to reverse a prolonged real-estate downturn.
Home sales by value fell 3.2% from a year earlier in the first nine months of the year, compared with a 1.5% fall in the January-to-August period, data released Wednesday by the National Bureau of Statistics showed.
Property investment dropped 9.1% on year in the January-to-September period, up from an 8.8% decline in the first eight months.
New construction starts tumbled 23.4% from a year earlier in the first three quarters, compared with a 24.4% year-on-year drop in the first eight months.
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Corrections & Amplifications
This item was corrected at 0257 GMT. The original incorrectly said China January-to-September property investment fell 8.4% on year. Property investment fell 9.1%. The year-on-year drop in the first eight months was 24.4%, not 24.5%.
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