Mar 16, 2023 04:16 AM

ECONOMY

Housing Market Slide Slows Amid Signs of Recovery

By Niu Mujiangqu and Han Wei

Residential project completion rose 9.7% year-on-year, reversing a months-long decline.

Residential project completion rose 9.7% year-on-year, reversing a months-long decline.

China’s struggling property market is showing glimmers of improvement as the protracted decline in housing investment and sales slowed during the first two months this year, official data showed.

Property investment by developers dropped 5.7% in the first two months of 2023, narrower than the 12% decline in December and the 10% slump for all of 2022, according to data released Wednesday by the National Bureau of Statistics (NBS).

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