China’s home sales fell 31.8% year-on-year in the first half of 2022, according to data from the country’s National Bureau of Statistics (NBS).
The result showed a slight improvement in relation to the 34.5% drop observed between January and May.
Started constructions – considering both residential and commercial properties – dropped 34.4% in the first half of the year compared to the same period last year.
In the first five months of the year, the reduction had been smaller, 30.6%.
Investments in the development of real estate projects suffered an annual contraction of 5.4% in the first half, deepening the 4% decline seen from January to May.
prices
The average price of new homes in China’s 70 largest cities fell 1.29% in June from a year ago, according to data released by the NBS, as the Chinese real estate industry continues to feel the impact of the regulatory campaign launched by Beijing last year.
In May, the price had suffered an annual decline of 0.79%.
On a monthly basis, the average price of new Chinese homes fell for the tenth consecutive month in June, down 0.10%, lower than the 0.17% contraction in May.
Source: CNN Brasil
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