CHINA PROPERTY INVESTMENT DROPS 20.6 PERCENT IN FIRST NINE MONTHS OF 2026
China’s real estate development investment fell 20.6 percent year on year in the first nine months of 2026. The total reached 5.3364 trillion yuan, according to the National Bureau of Statistics.
The decline widened from 19.9 percent in the first eight months. Residential investment dropped 20.5 percent over the same period.
The contraction is deeper than the roughly 16 percent decline recorded during the 2020 pandemic. Property investment has now fallen every month since 2022. That is the longest declining streak on record.
During the 2008 financial crisis, year-on-year growth in the sector never fell below 1 percent. Current levels stand in clear contrast.
New construction starts fell 24.9 percent. Funds received by developers declined 21.6 percent. Sales of new commercial housing by area dropped 13.2 percent and by value 13.9 percent.
The figures mark a continued deterioration in a sector that has contracted since 2022. Official data show no sign of stabilization through September 2026.