China's property investment falls at a faster clip in Jan-Oct

BEIJING : China's property investment fell at a faster pace during January-October, declining 8.8 per cent from a year earlier after slumping 8.0 per cent in the first nine months of the year.

Property sales by floor area dropped 22.3 per cent during January-October from the same period a year earlier, compared with the 22.2 per cent plunge in the first nine months of the year, according to data from the National Bureau of Statistics . New construction starts measured by floor area fell 37.8 per cent year-on-year in the first 10 months of the year, a slightly smaller decline than the 38 per cent drop in the first nine months period.

Funds raised by China's property developers fell 24.7 per cent, after a 24.5 per cent drop in the first nine months of the year.

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