BEIJING – Real estate investment growth in China slowed in the first half of the year as the base effect disappeared and Beijing tightened its grip on the property market.
Real estate investment rose 15% in the first half of the year, up from 18.3% growth in the January-May period, according to data released Thursday by the National Bureau of Statistics.
New construction starts fell more dramatically, with construction startups measured by area up 3.8%, compared with a 6.9% increase recorded in the first five months of the year.
Home sales in kind – the main indicator of demand – rose 41.9% in the first half of 2021 compared to a year earlier, down 56.5% from January to May.
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