October 19, 2018 / 2:04 AM / a year ago

China Jan-Sept property investment up 9.9 pct y/y

BEIJING, Oct 19 (Reuters) - Real estate investment in China rose 9.9 percent in the first three quarters of 2018 versus the same period a year earlier, official data showed on Friday.

That compared with a 10.1 percent gain in the first eight months of the year.

Property sales by floor area grew 2.9 percent in January-September from a year earlier, slower than an increase of 4 percent in the first eight months of this year, data from the National Bureau of Statistics (NBS) showed.

New construction starts measured by floor area were up 16.4 percent in the period, compared with a 15.9 percent increase in January-August.

Funds raised by China’s real estate developers in the first nine months grew 7.8 percent from the same period a year earlier and compared with a 6.9 percent increase in January-August, the NBS data showed. (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)

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