National Real Estate Development and Sales in August 2014
National Bureau of Statistics of China2014-09-15 14:41




1. The completion of real estate investment

 

The total investment in real estate development in the first eight months of 2014 was 5,897.5 billion yuan, a nominal increase of 13.2 percent year-on-year, 0.5 percentage points lower over the first seven months. Of which, the investment in residential buildings was 4,015.9 billion yuan, up by 12.4 percent, 0.9 percentage points lower, and accounted for 68.1 percent of real estate development investment.

 

 

 

In the first eight months, the real estate investment in eastern region stood at 3,352.5 billion yuan, up by 13.6 percent year-on-year, and the growth rate went down by 0.5 percentage points over the first seven months; the central region stood at 1,228.9 billion yuan, went up by 10.6 percent, and down by 1.0 percentage points; western region stood at 1,316.0 billion yuan, up by 14.4 percent, and a decrease of 0.3 percentage points.

 

In the first eight months, the floor space under construction by the real estate development enterprises accounted for 6,529.53 million square meters, up by 11.5 percent year-on-year, increased 0.2 percent over the first seven months. Of which, the floor space of residential building construction area was 4,652.43 million square meters, up by 8.3 percent. The floor space started this year was 1,143.82 millions square meters, down by 10.5 percent, and the pace of decline narrowed 2.3 percentage points. Specifically, the floor space of residential buildings started in the year amounted to 801.74 million square meters, down by 14.4 percent. The floor space of buildings completed stood at 497.59 million square meters, went up by 6.7 percent, an increase of 2.2 percentage points. Of which, the floor space completed of residential buildings stood at 380.36 million square meters, went up by 4.8 percent.

 

In the first eight months, the land area purchased by the real estate development enterprises totaled 207.87 million square meters, a year-on-year decrease of 3.2 percent, and the pace of decline declined 1.6 percentage point. The total transaction of land reached 569.4 billion yuan, increased 12.8 percent, an increase of 3.0 percentage points.

 

 

 

2. Sales of Commercial Buildings

 

In the first eight months, the floor space of commercial buildings sold stood at 649.87 million square meters, a year-on-year decrease of 8.3 percent, and the pace of decrease expanded 0.7 percentage points over the first seven months. Of the total, the floor space of residential buildings decreased 10.0 percent, office building decreased 8.9 percent, and buildings for business use increased 6.4 percent. The sales of commercial buildings amounted to 4,166.1 billion yuan, a decrease of 8.9 percent, and the pace of decrease expanded 0.7 percentage points over the first seven months. Specifically, the sales of residential buildings went down by 10.9 percent, office buildings down by 19.5 percent, buildings for commercial business up by 7.5 percent.

 

 

 

In the first eight months, the sale of floor space of commercial buildings in eastern region amounted to 304.85 million square meters, a year-on-year decrease of 15.0 percent, and the pace of decrease expanded 0.2 percentage points over the first seven months. The amount of sales stood at 2,412.8 billion yuan, went down by 15.5 percent, and the pace of decrease expanded 0.3 percentage points. The sale of floor space of commercial buildings in central region amounted to 174.10 million square meters, decreased 1.7 percent, an increase of 0.2 percentage points. The amount of sales stood at 870.9 billion yuan, increased 1.6 percent, a decrease of 2.3 percentage points. The sale of floor space of commercial buildings in western region amounted to 170.93 million square meters, a decrease of 1.1 percent, an increase of 0.6 percentage points over that in the first seven months. The amount of sales stood at 882.4 billion yuan, went up by 2.7 percent, a decrease of 0.7 percentage points.

 

At the end of August, the floor space of commercial housing for sale reached 561.60 million square meters, increased 9.30 million square meters compared with that at the end of July. Of which, the residential buildings for sale increased 5.90 million square meters, office buildings increased 0.54 million square meters, buildings for business use climbed 2.27 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first eight months, the sources of funds for real estate development enterprises reached 7,906.2 billion yuan, up by 2.7 percent year-on-year, 0.5 percentage points lower over the first seven months. Specifically, the domestic loans stood at 1,466.4 billion yuan, increased 13.8 percent, foreign investment stood at 34.1 billion yuan, down by 0.9 percent, self-raising funds stood at 3,261.8 billion yuan, up by 11.6 percent, and other sources stood at 3,144.0 billion yuan, down by 8.9 percent. Among the other sources of funds, deposits and advance payments totaled 1,890.5 billion yuan, decreased 10.7 percent, personal mortgage loans totaled 869.7 billion yuan, down by 4.5 percent.

 

 

 

4. National Real Estate Climate Index

 

In August, the national real estate climate index was 94.79, decreased 0.03 points over that in last month.

 

Investment in Real Estate Development for January-August

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

58975

13.2

  Of which: Residential Buildings

40159

12.4

      Office Buildings

3384

18.7

      Buildings for Commercial Business

8813

22.9

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

652953

11.5

  Of which: Residential Buildings

465243

8.3

      Office Buildings

26510

23.2

      Buildings for Commercial Business

83768

20.5

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

114382

-10.5

  Of which: Residential Buildings

80174

-14.4

      Office Buildings

4544

10.7

      Buildings for Commercial Business

15814

-0.5

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

49759

6.7

   Of which: Residential Buildings

38036

4.8

          Office Buildings

1272

13.8

         Buildings for Commercial Business

5659

10.0

 Land Acquisition Area (10,000 sq.m)

20787

-3.2

  Value of Land Transactions (100 million yuan)

5694

12.8

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

64987

-8.3

  Of which: Residential Buildings

57094

-10.0

      Office Buildings

1402

-8.9

      Buildings for Business Use

4521

6.4

 Sales of Commercial Buildings (100 million yuan)

41661

-8.9

  Of which: Residential Buildings

34314

-10.9

      Office Buildings

1693

-19.5

      Buildings for Commercial Business

4590

7.5

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

56160

26.6

  Of which: Residential Buildings

37047

26.9

      Office Buildings

2204

31.9

      Buildings for Commercial Business

10776

25.7

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

79062

2.7

  Of which: Domestic Loans

14664

13.8

      Foreign Investment

341

-0.9

      Self-raising Funds

32618

11.6

      Other Sources of Funds

31440

-8.9

      Deposits and Advance Payments

18905

-10.7

      Personal Mortgage

8697

-4.5

 

 

 

 

 

Real Estate Investment in Eastern,

Central and Western Regions for January-August

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

58975

40159

13.2

12.4

Eastern

33525

22657

13.6

13.0

Central

12289

8674

10.6

11.8

Western

13160

8828

14.4

11.3

 

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern,

Central and Western Regions for January-August

 

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

64987

-8.3

41661

-8.9

Eastern

30485

-15.0

24128

-15.5

Central

17410

-1.7

8709

1.6

Western

17093

-1.1

8824

2.7

 

 

 

 

 

 

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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