BEIJING : China's property investment fell 5.4 per cent from a year earlier in the first half of the year, after a 4.0 per cent decline in the first five months, official data showed on Friday.
Property sales by floor area slumped 22.2 per cent year-on-year in January-June, compared with a 23.6 per cent fall in January-May, according to data from the National Bureau of Statistics . New construction starts measured by floor area fell 34.4 per cent in the first six months from a year earlier, after a 30.6 per cent plunge in the first five months of the year.
Funds raised by China's property developers declined 25.3 per cent year-on-year in January-June, after a 25.8 per cent drop in January-May. China's real estate sector, which broadly contributes one-third of gross domestic product , is in crisis as a string of developers default on their debts and a growing number of homebuyers refuse to pay mortgages on stalled projects.
Ugh, look at that INSANE smoky weather. China is well known for their dirty people. Dirty food, dirty sky, land, and ocean. Only poor people want to buy properties there.