China's property investment down in Jan-Nov

China's investment in property development went down 9.8% year on year in the first 11 months of 2022, data from the National Bureau of Statistics (NBS) showed. This was reported by The Xinhua News Agency.

Total property investment in this period stood at ¥12.39 trln (about $1.79 trln), the NBS said.

Investment in residential buildings came in at ¥9.4 trln, down 9.2% year on year.

Commercial housing sales in terms of floor area totaled 1.21 bln square meters, down 23.3% year on year. In terms of value, sales fell 26.6% to ¥11.86 trln.

The property development climate index, compiled by the NBS, came in at 94.42 points in November.