* Nov property investment +10.9% y/y, vs 12.7% in Oct * Nov property sales +12% y/y vs +15.3% y/y in Oct * Nov new construction starts +4.1% vs +3.5% in Oct BEIJING, Dec 15 (Reuters) - China’s November property investment grew at a slower pace, as regulators stepped up scrutiny on the most leveraged and largest developers in the sector. Real estate investment in November rose 10.9% from a year earlier, easing from 12.7% growth seen in October but still at an elevated pace, according to Reuters calculations based on data from the National Bureau of Statistics on Tuesday. The property market, a key driver of China’s growth, quickly regained strength after coronavirus restrictions were lifted, with home prices and investment growing at a robust pace in recent months. But as sales recover, regulators have increased scrutiny on financing activities of developers and buyers to prevent rampant debt growth. Chinese policymakers have said they will seek to maintain the healthy development of the property market. Indeed, land purchases by developers fell 5.2% in the first 11 months of the year, worsening from January-October’s 3.3% decline. Property sales by floor area remained robust, rising 12% in November from a year earlier, albeit a bit down from a 15.3% growth in October. New construction starts measured by floor area increased 4.1% year-on-year last month, compared with October’s 3.5% uptick. Funds raised by China’s property developers rose 6.6% in January-November, versus a 5.5% increase in the previous period. (Reporting by Lusha Zhang, Liangping Gao and Kevin Yao; Editing by Sam Holmes)