Where Data Tells the Story
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China’s property investment fell 12 percent year-on-year to 535.8 billion yuan in the first seven months of 2025, according to data released Friday by the National Bureau of Statistics. Residential investment dropped 10.9 percent during the same period, totaling 412.1 billion yuan. In July, Northeast China recorded the biggest decline in property investment growth among all regions, contracting -22.2 percent year-on-year. Residential investment in the region fell 21.6 percent.
From January to July, the floor area of housing under construction by real estate developers decreased 9.2 percent compared to a year earlier while newly started housing projects fell by 19.4 percent in floor area. The total sales of newly-built commercial buildings was down by 6.5 percent year-on-year.