August 14, 2018 / 2:03 AM / a year ago

China Jan-July property investment up 10.2 pct y/y

BEIJING, Aug 14 (Reuters) - Real estate investment in China rose 10.2 percent in the first seven months of 2018 from the same period a year earlier, official data showed on Tuesday.

That compared with a 9.7 percent gain in the first six months of the year.

Property sales measured by floor area grew 4.2 percent in January-July from a year earlier, up from an increase of 3.3 percent in the first six months of this year, data from the National Bureau of Statistics (NBS) showed.

New construction starts measured by floor area were up 14.4 percent in the period, compared with an 11.8 percent increase in January-June.

In a sign of looser funding conditions, funds raised by China’s real estate developers in the first seven months grew 6.4 percent from the same period a year earlier and compared with a 4.6 percent increase in January-June, the NBS data showed. (Reporting by Kevin Yao and Lusha Zhang; Writing by Yawen Chen; Editing by Sam Holmes)

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