China Home Sales Fall by Most in Almost Three Years on Curbs
- Sales drop 3.4% in value in October from a year earlier
- Investment in real estate development grows at slower pace
Residential properties in Guangzhou, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s new home sales fell by the most in almost three years last month, adding to signs of cooling as local governments keep rolling out curbs to limit price increases.
Sales by value dropped 3.4 percent from a year earlier to 909 billion yuan ($137 billion), according to Bloomberg calculations based on data released Tuesday by the National Bureau of Statistics. That was the biggest year-on-year decline since November 2014.