Chart of the Day: China’s Vanishing Property Glut

The total area of China’s unsold properties, which include residential, office and commercial buildings, dipped to 539 million square meters (5.8 billion square feet) at the end of August, according to data (link in Chinese) released Friday by the National Bureau of Statistics. Property inventories in China have generally been falling since the beginning of 2016.

The latest data suggest that real estate developers have effectively reduced their stocks, said Zhong Zhengsheng, director of macroeconomic analysis with consultancy CEBM Group, a subsidiary of Caixin Insight Group, in a blog post (link in Chinese).

Contact reporter Lin Jinbing (jinbinglin@caixin.com)