September 14, 2018 / 2:02 AM / a year ago

China Jan-Aug property investment up 10.1 pct y/y

BEIJING, Sept 14 (Reuters) - Real estate investment in China rose 10.1 percent in the first eight months of 2018 versus the same period a year earlier, official data showed on Friday.

That compared with a 10.2 percent gain in the first seven months of the year.

Property sales by floor area grew 4 percent in January-August from a year earlier, down from an increase of 4.2 percent in the first seven months of this year, data from the National Bureau of Statistics (NBS) showed.

New construction starts measured by floor area were up 15.9 percent in the period, compared with a 14.4 percent increase in January-July.

In a sign of looser funding conditions, funds raised by China’s real estate developers in the first eight months grew 6.9 percent from the same period a year earlier and compared with a 6.4 percent increase in January-July, the NBS data showed. (Reporting by Kevin Yao and Lusha Zhang; Editing by Shri Navaratnam)

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