China's property investment falls 11.2% y/y in January-June

BEIJING, July 15 (Reuters) - Property investment in China declined 11.2% in the first half of the year from the same period last year, after slumping 10.7% in January-May, official data showed on Tuesday.

Property sales by floor area fell 3.5% year-on-year, compared with a 2.9% drop in the first five months of the year.

New construction starts measured by floor area dropped 20%, after contracting 22.8% in the January-to-May period.

Funds raised by China's property developers in the first half of the year were down 6.2%, versus a 5.3% drop in the first five months.