China Sept property investment and sales speed up, new construction moves down


September’s investment in Chinese real estate showed its strongest growth since May as booming construction, sales and prices contributed handsomely to third quarter economic expansion of 6.7 per cent, offsetting stubbornly weak exports.

Property investment rose 7.8 per cent in September from a year earlier, compared with 6.2 per cent in August, according to calculations by Reuters, based on data issued by the National Bureau of Statistics (NBS) on Wednesday.

But analysts say real estate developers may have become more cautious of taking on new developments, fearing a fall in sales momentum if the government imposes more tightening measures to prevent a property bubble.

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The author Paul