(Yicai Global) Nov. 14 -- Sales of commercial property by floor space gained in China last month for the first time this year thanks to a slew of discounts and promotions by developers.

A nine-month losing streak came to an end in October, when special offers lifted sales 0.1 percent for the entire first 10 months, China New Service reported today. That means strenuous efforts made by real estate companies to shift inventory is starting to pay off, the report added, citing industry insiders.

A total of 1.3 billion square meters of commercial property was sold in the 10 months, according to data the National Bureau of Statistics released today. Sales by area had fallen 0.1 percent in the first nine months from a year earlier. By value, they hit CNY12.4 trillion (USD1.8 trillion) between January and September, representing a 7.3 percent increase and a 0.2 percentage point gain in pace.

Pre-sale certificate issuance picked up speed in September, showing that developers' recent sweeteners are having an effect, said Yan Yuejin, research director at think tank E-house China R&D Institute.

Sales in October were still better than in the same period last year, driven by more aggressive promotions, according to Guo Shiying, an analyst at Zhuge Zhaofang Data Research Center. The national average price of new build homes sold last month fell about 1.2 percent from September, decelerating by 0.76 percentage point.

The NBS also revealed that property developers invested a total of CNY11 trillion in the housing sector from January to October, a 10.3 percent increase from a year earlier. But the growth rate was 0.2 point slower than between January and September.