China's Jan-Oct property investment rises 7.2% y/y

BEIJING, Nov 15 (Reuters) - China's property investment grew 7.2% during January-October from a year earlier, easing from the 8.8% gain seen in the first nine months of the year.

Property sales by floor area rose 7.3% during January-October from the same period a year earlier, compared with the 11.3% jump in the first nine months of the year, the National Bureau of Statistics (NBS) said in a statement.

New construction starts measured by floor area fell 7.7% year-on-year in the first 10 months of 2021, a larger decline than the 4.5% drop in the first nine months period.

Funds raised by China's property developers grew 8.8%, less than the 11.1% pickup in the first nine months of the year. (Reporting by Liangping Gao and Ryan Woo; Editing by Sam Holmes and Christian Schmollinger)

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