BEIJING — China's investment in property development grew 10.2 percent year-on-year in the first 11 months, down from 10.3 percent for the first 10 months, the National Bureau of Statistics (NBS) said on Dec 16.

The total property investment during the period stood at 12.13 trillion yuan (about $1.7 trillion), the NBS said.

The investment in residential buildings went up 14.4 percent year-on-year to 8.92 trillion yuan in the first 11 months, with the pace of growth decelerating 0.2 percentage points from the first 10 months.

Commercial housing sales in terms of floor area totaled 1.49 billion square meters from January to November, up 0.2 percent year-on-year, 0.1 percentage points higher than the January-October growth.

In the first 11 months, commercial housing sales in terms of value gained 7.3 percent to 13.9 trillion yuan, unchanged from the growth rate in the first 10 months.