National Real Estate Development and Sales in the First Three Months of 2015
National Bureau of Statistics of China2015-04-15 16:03




1. The completion of real estate investment

 

The total investment in real estate development in the first three months of 2015 was 1,665.1 billion yuan, a nominal increase of 9.5 percent year-on-year, 1.9 percentage point lower over the first two months. Of which, the investment in residential buildings was 1,115.6 billion yuan, up by 5.9 percent, 3.2 percentage points lower, and accounted for 67.0 percent of real estate development investment.

 

 

 

In the first three months, the real estate investment in eastern region stood at 1,000.3 billion yuan, up by 9.5 percent year-on-year, and the growth rate went down by 1.9 percentage points over the first two months; the central region stood at 311.6 billion yuan, went up by 6.9 percent, and up by 0.2 percentage points; western region stood at 353.1 billion yuan, up by 7.5 percent, and a decrease of 3.6 percentage points.

 

In the first three months, the floor space under construction by the real estate development enterprises accounted for 5,840.18 million square meters, up by 6.8 percent year-on-year, dropped 0.8 percentage points over the first two months. Of which, the floor space of residential building construction area was 4,077.14 million square meters, up by 3.7 percent. The floor space started this year was 237.24 millions square meters, down by 18.4 percent, and the pace of decline expanded 0.7 percentage points. Specifically, the floor space of residential buildings started in the year amounted to 167.91 million square meters, down by 20.9 percent. The floor space of buildings completed stood at 169.94 million square meters, went down by 8.2 percent, and the pace of decline narrowed 4.7 percentage points. Of which, the floor space completed of residential buildings stood at 123.92 million square meters, went down by 10.9 percent.

 

In the first three months, the land area purchased by the real estate development enterprises totaled 40.51 million square meters, a year-on-year decrease of 32.4 percent, and the pace of decrease expanded 0.7 percentage points over the first two months. The total transaction of land reached 112.3 billion yuan, decreased 27.8 percent, and the pace of decrease narrowed 2.4 percentage points.

 

 

 

2. Sales of Commercial Buildings

 

In the first three months, the floor space of commercial buildings sold stood at 182.54 million square meters, a year-on-year decrease of 9.2 percent over the first two months, and the pace of decrease narrowed 7.1 percentage points over the first two months. Of the total, the floor space of residential buildings decreased 9.8 percent, office building decreased 23.3 percent, and buildings for business use increased 5.4 percent. The sales of commercial buildings amounted to 1,202.3 billion yuan, a decrease of 9.3 percent, and the pace of decrease narrowed 6.5 percentage points over the first two months. Specifically, the sales of residential buildings went down by 9.1 percent, office buildings down by 26.5 percent, buildings for commercial business increased 1.8 percent.

 

 

 

In the first three months, the sale of floor space of commercial buildings in eastern region amounted to 85.42 million square meters, a year-on-year decrease of 11.9 percent, and the pace of decrease narrowed 5.6 percentage points over the first two months. The amount of sales stood at 712.0 billion yuan, went down by 10.8 percent, and the pace of decrease narrowed 5.6 percentage points. The sale of floor space of commercial buildings in central region amounted to 47.42 million square meters, decreased 10.9 percent, and the pace of decrease narrowed 11.2 percentage points. The amount of sales stood at 237.7 billion yuan, decreased 10.4 percent, and the pace of decrease narrowed 11.1 percentage points. The sale of floor space of commercial buildings in western region amounted to 49.70 million square meters, a decrease of 2.3 percent, and the pace of decrease narrowed 5.3 percentage points. The amount of sales stood at 252.6 billion yuan, went down by 3.9 percent, and the pace of decrease narrowed 3.7 percentage points.

 

At the end of March, the floor space of commercial housing for sale reached 649.98 million square meters, increased 10.76 million square meters compared with that at the end of the first two months. Of which, the residential buildings for sale increased 6.39 million square meters, office buildings increased 0.14 million square meters, buildings for business use went up by 2.55 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first three months, the sources of funds for real estate development enterprises reached 2,789.2 billion yuan, down by 2.9 percent year-on-year, and 1.6 percent over the first two months. Specifically, the domestic loans stood at 584.5 billion yuan, decreased 6.1 percent, foreign investment stood at 9.3 billion yuan, surged 11.3 percent, self-raising funds stood at 1,121.4 billion yuan, up by 1.1 percent, and other sources stood at 1,073.9 billion yuan, down by 5.2 percent. Among the other sources of funds, deposits and advance payments totaled 626.0 billion yuan, decreased 8.4 percent, personal mortgage loans totaled 319.4 billion yuan, up by 1.0 percent.

 

 

 

4. National Real Estate Climate Index

 

In March, the national real estate climate index was 93.11, decreased 0.16 points month-on-month.

 

Investment in Real Estate Development for January-March

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

16651

8.5

  Of which: Residential Buildings

11156

5.9

      Office Buildings

1088

20.6

      Buildings for Commercial Business

2532

17.2

 Floor Space under Construction (10,000 sq.m)

584018

6.8

  Of which: Residential Buildings

407714

3.7

      Office Buildings

26104

19.2

      Buildings for Commercial Business

77893

14.3

 Floor Space of Houses Newly Started (10,000 sq.m)

23724

-18.4

  Of which: Residential Buildings

16791

-20.9

      Office Buildings

939

-5.8

      Buildings for Commercial Business

3327

-8.6

 Floor Space of Buildings Completed (10,000 sq.m)

16994

-8.2

   Of which: Residential Buildings

12392

-10.9

          Office Buildings

689

24.7

         Buildings for Commercial Business

2048

-7.9

 Land Acquisition Area (10,000 sq.m)

4051

-32.4

 Value of Land Transactions (100 million yuan)

1123

-27.8

 Floor Space of Commercial Buildings Sold (10,000 sq.m)

18254

-9.2

  Of which: Residential Buildings

16079

-9.8

      Office Buildings

378

-23.3

      Buildings for Business Use

1254

5.4

 Sales of Commercial Buildings (100 million yuan)

12023

-9.3

  Of which: Residential Buildings

10062

-9.1

      Office Buildings

423

-26.5

      Buildings for Commercial Business

1266

1.8

 Floor Space of Commercial Housing for Sale (10,000 sq.m)

64998

24.6

  Of which: Residential Buildings

42817

23.5

      Office Buildings

2853

41.4

      Buildings for Commercial Business

12076

23.2

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

27892

-2.9

  Of which: Domestic Loans

5845

-6.1

      Foreign Investment

93

11.3

      Self-raising Funds

11214

1.1

      Other Sources of Funds

10739

-5.2

      Deposits and Advance Payments

6260

-8.4

      Personal Mortgage

3194

1.0

 

 

 

 

 

Real Estate Investment in Eastern,

Central and Western Regions for January-March

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

16651

11156

8.5

5.9

Eastern

10003

6648

9.5

7.1

Central

3116

2165

6.9

3.1

Western

3531

2343

7.5

5.3

 

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern,

Central and Western Regions for January-March

 

Regions

Floor Space of Commercial Buildings Sold

Sales of Commercial Buildings

Absolute

Value

(10,000 Sq.m)

Growth Rate Y/Y (%)

Absolute

Value

(100 million yuan)

Growth Rate Y/Y (%)

 

 

 

 

 

National Total

18254

-9.2

12023

-9.3

Eastern

8542

-11.9

7120

-10.8

Central

4742

-10.9

2377

-10.4

Western

4970

-2.3

2526

-3.9

 

 

 

 

 

 

 

Annotations:

 

1. Explanation of Indicator

 

The total investment in real estate development this year: refers to the investment of all construction projects for housing, land development projects, public welfare construction and land acquisition costs in the reporting period. The index is cumulatively statistical data based on the principle of image progress.

 

Area of commercial buildings sold: refer total areas sold of new commercial buildings in the contract during the reporting period (i.e. area of floor space designated in the formal contract signed by both sides). The indicator is cumulative data.

 

Value of commercial buildings sold: refers to the total contracted vale of new commercial buildings for sale during the reporting period (i.e. the total value of sales for selling of commercial building as designated in the formal contract signed by both sides). This indicator is cumulative data, as well as the sale of floor space of commercial buildings.

 

The sources of funds for real estate development enterprises in the year: refers to various currencies and sources of real estate development funds actually available by the real estate development enterprises in the reporting period. Specifically, it includes domestic loans, foreign investment, self-raised funds and other funds. The index is cumulative data.

 

Floor space of buildings under construction: refers to the total floor space of all buildings by the real estate development enterprises during the reference time. Including floor space newly started in current year, floor space of continued construction of the building from the former period, floor space of stopped or postponed in the previous period but recovered in current year, floor space completed during current year, and newly started floor space in current year but postponed. Floor space under construction of multi-storey buildings refers to the total floor space of all stories.

 

Floor space of houses newly started: refers to floor space of houses newly started by the real estate development enterprises during the reference time, the unit project as the accounting object. Not including continued construction area of housing which started in the previous period, and restarted construction area in the current year but stopped or postponed in the previous period. Specific due date is subject to starts to housing officially began ground-breaking gouge (ground treatment or permanent piles). Floor space of houses newly started refers to the entire floor spaces of whole building; the calculation can not be separated.

 

Floor space of buildings completed: refers to housing construction during the reporting period have been completed in accordance with design requirements, achieved to living and conditions of use, acceptance of accreditation standards or to the final acceptance, total building areas could formally handed over to be used.

 

Land acquisition area: refers to land area by the real estate development enterprises in the year through various ways to obtain land.

 

Value of land transactions: refers to final amount of transactions of land use rights by the real estate development enterprises. In the primary land market, refers to the final section of land allocation, "auction" price and sale price; the secondary land market, refers to the finalize the contract price on land transfer, lease, mortgage, etc.. Price of land transactions and land acquisition area are the same scope, December calculate the average purchase price of land.

 

2. Statistics coverage

 

All real estate development and corporate business units.

 

3. Survey methods

 

Collected monthly with complete enumeration (no report in January).

 

4. Brief description on national real estate climate index

 

National real estate climate index fluctuations follow by the economic cycle theory, according to the business cycle theory and business cycle analysis, based on the use of time series, multivariate statistical, econometric analysis, use the real estate development and investment as the benchmarks, selected related indicators such as real estate investment, capital, area, sales, conducted by the seasonal factors and random factors, adopting the growth rate cycle method. National real estate index selected year 2000 as the base year, its growth rate set at 100. Typically, the most appropriate level of national real estate climate index is 100, the moderate level is between 95 and 105, the lower level is below 95, and the higher level is above 105.

 

5. Division on Eastern, Central and Western Regions

 

Eastern region includes Beijing, Tianjin, Hebei, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Guangdong, and Hainan. Central region includes Shanxi, Jilin, Heilongjiang, Anhui, Jiangxi, Henan, Hubei, and Hunan. Western region includes Inner Mongolia, Guangxi, Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Qinghai, Ningxia, and Xinjiang.

 

6. Calculation on Growth Rate

 

The growth rate of real estate investment is nominal growth rate, due to the investment in fixed assets price index was calculated on quarterly, in addition to the January-March, January-June January-September, and January-December was calculated on computable real growth rate, the other months only calculated the nominal growth rate.

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