China’s property investment rose 4.4% in 2021 from a year earlier, slowing from a 6.0% gain seen in the first 11 months of the year, official data showed on Monday.
Property sales by floor area increased 1.9% year-on-year in 2021, slower than the 4.8% growth seen in January-November, the National Bureau of Statistics (NBS) said in a statement.
New construction starts measured by floor area fell 11.4% in 2021 from the same period a year earlier, compared with a 9.1% drop in the first 11 months of the year.
Funds raised by China’s property developers grew 4.2% from a year earlier, after increasing 7.2% in January-November.
Beijing expects the operation of its property market to keep pace with steady growth of investment in the sector this year, Ning Jizhe, the head of the statistics bureau, said.
He told a news conference that there was room for monetary policy to support growth, and added that he expected China’s population to stay above 1.4 billion in the foreseeable future.
- Reuters with additional editing by Sean OMeara