Property sales fall 16.3% as unsold stock grows

Property sales in China fell 16.3% in the year’s first two months, more than the 7.6% fall for the entirety of 2014, with unsold property space up 17.53 million square meters at the end of February since the end of last year, South China Morning Post reported, citing data from developers and the National Bureau of Statistics. Developers sold a total of 77.09 million square meters of residential property in January and February this year, compared with 1.05 billion square meters in 2014 and 1.1 billion square meters in 2013.