In the January-August period, China’s property investment extended a 6.4% decline from January to July, falling a total of 7.4% over the full 8-month period, according to new data from China’s National Bureau of Statistics, released Friday.

There was a 23% decline in property sales by floor-area, from the first eight months one year prior, after dropping 23.1% in the first seven months, off increasingly fragile demand.

New construction starts measured by floor-area dropped an annualized 37.2% in January-August, following a 36.1% drop in the January-July period.

China’s property developers saw a 25% drop in funds raised from the same period one year prior, following a 25.4% drop seen in January-July.

Since the summer of 2020, China’s property sector has been battered as regulators began to step in to reduce overleveraging by developers. Regulators worried that it appeared the issues with property developer Evergrande might be more widespread throughout the sector, offering the risk of contagion spreading from developer to developer.