BEIJING, May 16 (Reuters) - China's property investment fell 2.7% from a year earlier in January-April, compared with a 0.7% gain in the first three months of the year, official data showed on Monday.
The property sector, a major economic growth driver, has been in an extended slump for nearly a year, as authorities clamped down on developers' debt-fuelled expansions, spooking would-be home buyers.
Property sales by floor area fell 20.9% year-on-year in the first four months, following a 13.8% decline seen in the first three months, according to data from the National Bureau of Statistics (NBS).
New construction starts measured by floor area fell 26.3% in January-April from a year earlier, after a 17.5% decline in the first quarter of the year.
Funds raised by China's property developers slumped 23.6% year-on-year in the first four months, after a 19.6% drop in January-March. (Reporting by Liangping Gao and Ryan Woo; Editing by Bernard Orr and Jacqueline Wong)