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China's Jan-Aug property investment rises 4.6% y/y

BEIJING, Sept 15 (Reuters) - China’s real estate investment rose 4.6% in January-August from a year earlier, official data showed on Tuesday, accelerating from the 3.4% growth seen in the first seven months of the year.

Property sales by floor area fell 3.3% in the first eight months, according to data from the National Bureau of Statistics, compared with a 5.8% decline from a year earlier in the first seven months.

China’s property market has gained momentum in recent months but some analysts say a sustainable rebound may still be some time away as consumer confidence remains soft and policy curbs remain in place.

New construction starts measured by floor area fell 3.6% from a year earlier, slowing from a 4.5% fall in the first seven months of the year.

Funds raised by China’s property developers grew 3.0%, compared with a 0.8% growth for the first seven months. (Reporting By Liangping Gao and Gabriel Crossley; Editing by Sam Holmes)

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