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China January-April property investment up 21.6% year-on-year, cooling from first quarter

Reuters
·1-min read
FILE PHOTO: File photo of an excavator at a construction site of new residential buildings in Shanghai

BEIJING (Reuters) - Real estate investment in China rose 21.6% in the first four months of 2021 from a year earlier, cooling from a 25.6% gain seen in the first three months, official data showed on Monday.

Property sales by floor area grew 48.1% year-on-year, slowing from a 63.8% rise in the first quarter of the year, the National Bureau of Statistics (NBS) said in a statement.

New construction starts measured by floor area rose 12.8% from a year earlier, compared with 28.2% growth in the January-March period.

(Reporting by Judy Hua and Kevin Yao; Editing by Sam Holmes)