Momentum for Housing-Sales Growth in China Slows
By Dominique Fong
BEIJING--The momentum of housing sales growth in China slowed in March compared with the start of the year.
Housing sales by value for the January-March period rose 11.4% from a year earlier, according to data released Tuesday by the National Bureau of Statistics. That compared with a 15.7% gain in the first two months of the year.
Housing sales in the month of March alone rose 7.6% from the January-February period, based on calculations made by The Wall Street Journal.
Property investment, including in commercial and residential real estate, rose 10.4% in the first three months of the year from a year earlier to 2.1 trillion yuan, compared with 9.9% for the January-February period.
Construction starts increased 9.7% from January to March at 346 million square meters from a year earlier, compared with a 2.9% increase for the first two months of the year.
-- Dominique Fong