China's investment in property development rose 10.9 percent year on year in the first eight months of this year, data from the National Bureau of Statistics (NBS) showed Wednesday.
Compared with the 2019 level, property investment went up 15.9 percent, putting average January-August growth for 2020 and 2021 at 7.7 percent.
Investment in residential buildings gained 13 percent year on year during the eight-month period, the NBS data showed.
Commercial housing sales rose 15.9 percent year on year in terms of floor area to over 1.14 billion square meters. In terms of value, commercial housing sales went up 22.8 percent.
The property development climate index compiled by the NBS last month came in at 100.85 points.
China continued to see its housing market ease in August under strengthened market regulations, with both yearly and monthly increases in home prices in 70 major cities slowing down, separate NBS data showed.
New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- rose 0.3 percent month on month in August, representing a slower growth pace from the 0.4 percent seen in July.