China's property investment falls 12.9% y/y in January-August

BEIJING, Sept 15 (Reuters) - Property investment in China fell 12.9% in the first eight months of the year from the same period last year, following a 12% drop in the January-to-July period, official data showed on Monday.

Property sales by floor area declined 4.7% year-on-year, compared with a 4.0% drop in the first seven months.

New construction starts measured by floor area slumped 19.5% on year, after contracting 19.4% in the January-to-July period.

Funds raised by China's property developers in the first eight months of the year were down 8.0%, versus a 7.5% decrease in the first seven months.