China's property investment down in Jan-Nov

(File photo: Xinhua)

BEIJING, Dec. 15 (Xinhua) -- China's investment in property development went down 9.8 percent year on year in the first 11 months of 2022, data from the National Bureau of Statistics (NBS) showed Thursday.

Total property investment in this period stood at 12.39 trillion yuan (about 1.79 trillion U.S. dollars), the NBS said.

Investment in residential buildings came in at 9.4 trillion yuan, down 9.2 percent year on year.

Commercial housing sales in terms of floor area totaled 1.21 billion square meters, down 23.3 percent year on year. In terms of value, sales fell 26.6 percent to 11.86 trillion yuan.

The property development climate index, compiled by the NBS, came in at 94.42 points in November.