China's property investment reports narrowed decline in first two months

BEIJING, March 17 (Xinhua) -- China's investment in property development decreased 9.8 percent year on year in the first two months of 2025. The drop narrowed by 0.8 percentage points compared to the full year of 2024, the National Bureau of Statistics (NBS) said Monday.

Total property investment in this period stood at 1.072 trillion yuan (about 149.5 billion U.S. dollars) in the two-month period, NBS data showed. Investment in residential buildings came in at 805.6 billion yuan, down 9.2 percent year on year.

New commercial housing sales shrank 5.1 percent year on year in terms of floor area to 107.46 million square meters in January and February, a reduction of 7.8 percentage points smaller than last year's full-year decline.

In terms of value, new commercial housing sales dropped 2.6 percent year on year to nearly 1.026 trillion yuan, with the decrease narrowing by 14.5 percentage points.

The property development climate index, compiled by the NBS, came in at 93.8 points in February. ■