New homes stand behind the construction site of a new subway station in Beijing on April 18, 2023. Photo: Reuters
China’s property-market recovery ‘uncertain’ as investment remains weak despite surge in first-quarter home sales
- Property development investment dropped 5.8 per cent year on year to 2.6 trillion yuan (US$377.8 billion) in the first quarter
- Overall property sales rose 4.1 per cent year on year in the quarter, and new-homes sales shot up 7.1 per cent, according to government data
New homes stand behind the construction site of a new subway station in Beijing on April 18, 2023. Photo: Reuters
