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Property market fever cools in China's Hainan
October 12, 2016 / 11:22 AM / a year ago

Property market fever cools in China's Hainan

BEIJING, Oct 12 (Reuters) - Investment, sales area growth and other housing market data in China’s southern island Hainan province showed a slowdown in the in the first nine months, after growth in earlier periods in the year, the official Xinhua news agency said on Wednesday.

Property investment growth fell to 2.5 percent in the first nine months from 12.2 percent in the first five months, Xinhua said, citing data presented during a provincial government briefing.

Sales area growth rate dropped to 46.4 percent in the first three quarters, almost half of the rate of the first four months, it said.

But property sales in Hainan are expected to rebound as the traditional peak sales season is approaching, it said.

Reporting by Beijing Monitoring Desk; Editing by Nick Macfie

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