National Real Estate Development and Sales in September 2014
National Bureau of Statistics of China2014-10-21 16:47




1. The completion of real estate investment

 

The total investment in real estate development in the first nine months of 2014 was 6,875.1 billion yuan, a nominal increase of 12.5 percent year-on-year (actual increase was 11.7 percent after deducting price factors), 0.7 percentage points lower over the first eight months. Of which, the investment in residential buildings was 4,672.5 billion yuan, up by 11.3 percent, 1.1 percentage points lower, and accounted for 68.0 percent of real estate development investment.

 

 

 

In the first nine months, the real estate investment in eastern region stood at 3,873.7 billion yuan, up by 12.6 percent year-on-year, and the growth rate went down by 1.0 percentage point over the first eight months; the central region stood at 1,453.6 billion yuan, went up by 10.7 percent, and up by 0.1 percentage point; western region stood at 1,547.9 billion yuan, up by 14.0 percent, and a decrease of 0.4 percentage points.

 

In the first nine months, the floor space under construction by the real estate development enterprises accounted for 6,732.30 million square meters, up by 11.5 percent year-on-year, kept at the same level over the first eight months. Of which, the floor space of residential building construction area was 4,790.17 million square meters, up by 8.1 percent. The floor space started this year was 1,314.11 millions square meters, down by 9.3 percent, and the pace of decline narrowed 1.2 percentage points. Specifically, the floor space of residential buildings started in the year amounted to 917.54 million square meters, down by 13.5 percent. The floor space of buildings completed stood at 565.04 million square meters, went up by 7.2 percent, an increase of 0.5 percentage points. Of which, the floor space completed of residential buildings stood at 432.69 million square meters, went up by 5.1 percent.

 

In the first nine months, the land area purchased by the real estate development enterprises totaled 240.14 million square meters, a year-on-year decrease of 4.6 percent, and the pace of decline expanded 1.4 percentage points. The total transaction of land reached 678.1 billion yuan, increased 11.5 percent, a decrease of 1.3 percentage points.

 

 

 

2. Sales of Commercial Buildings

 

In the first nine months, the floor space of commercial buildings sold stood at 771.32 million square meters, a year-on-year decrease of 8.6 percent, and the pace of decrease expanded 0.3 percentage points over the first eight months. Of the total, the floor space of residential buildings decreased 10.3 percent, office building decreased 9.5 percent, and buildings for business use increased 7.0 percent. The sales of commercial buildings amounted to 4,922.7 billion yuan, a decrease of 8.9 percent, and the pace of decrease kept at the same level over the first eight months. Specifically, the sales of residential buildings went down by 10.8 percent, office buildings down by 19.7 percent, buildings for commercial business up by 6.8 percent.

 

 

 

In the first nine months, the sale of floor space of commercial buildings in eastern region amounted to 359.08 million square meters, a year-on-year decrease of 15.3 percent, and the pace of decrease expanded 0.3 percentage points over the first eight months. The amount of sales stood at 2,841.8 billion yuan, went down by 15.5 percent, and the pace of decrease remained at the same level. The sale of floor space of commercial buildings in central region amounted to 206.93 million square meters, decreased 2.9 percent, and the pace of decrease expanded 1.2 percentage points. The amount of sales stood at 1,033.7 billion yuan, increased 1.1 percent, a decrease of 0.5 percentage points. The sale of floor space of commercial buildings in western region amounted to 205.31 million square meters, a decrease of 0.6 percent, and the pace of decrease narrowed 0.5 percentage points. The amount of sales stood at 1,047.2 billion yuan, went up by 2.8 percent, an increase of 0.1 percentage point.

 

At the end of September, the floor space of commercial housing for sale reached 571.48 million square meters, increased 9.88 million square meters compared with that at the end of August. Of which, the residential buildings for sale increased 6.29 million square meters, office buildings increased 0.46 million square meters, buildings for business use climbed 2.06 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first nine months, the sources of funds for real estate development enterprises reached 8,986.9 billion yuan, up by 2.3 percent year-on-year, 0.4 percentage points lower over the first eight months. Specifically, the domestic loans stood at 1,628.8 billion yuan, increased 11.8 percent, foreign investment stood at 43.0 billion yuan, up by 9.9 percent, self-raising funds stood at 3,753.5 billion yuan, up by 11.5 percent, and other sources stood at 3,561.6 billion yuan, down by 9.1 percent. Among the other sources of funds, deposits and advance payments totaled 2,158.2 billion yuan, decreased 11.1 percent, personal mortgage loans totaled 979.4 billion yuan, down by 4.9 percent.

 

 

 

4. National Real Estate Climate Index

 

In September, the national real estate climate index was 94.72, decreased 0.07 points over that in last month.

 

 

Investment in Real Estate Development for January-September

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

68751

12.5

  Of which: Residential Buildings

46725

11.3

      Office Buildings

4008

22.8

      Buildings for Commercial Business

10342

22.8

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

673230

11.5

  Of which: Residential Buildings

479017

8.1

      Office Buildings

27381

24.5

      Buildings for Commercial Business

86673

20.1

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

131411

-9.3

  Of which: Residential Buildings

91754

-13.5

      Office Buildings

5315

15.4

      Buildings for Commercial Business

18263

0.0

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

56504

7.2

   Of which: Residential Buildings

43269

5.1

          Office Buildings

1415

15.3

         Buildings for Commercial Business

6408

12.2

 Land Acquisition Area (10,000 sq.m)

24014

-4.6

 Value of Land Transactions (100 million yuan)

6781

11.5

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

77132

-8.6

  Of which: Residential Buildings

67669

-10.3

      Office Buildings

1647

-9.5

      Buildings for Business Use

5468

7.0

 Sales of Commercial Buildings (100 million yuan)

49227

-8.9

  Of which: Residential Buildings

40516

-10.8

      Office Buildings

1986

-19.7

      Buildings for Commercial Business

5469

6.8

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

57148

28.0

  Of which: Residential Buildings

37676

28.5

      Office Buildings

2250

34.7

      Buildings for Commercial Business

10982

27.1

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

89869

2.3

  Of which: Domestic Loans

16288

11.8

      Foreign Investment

430

9.9

      Self-raising Funds

37535

11.5

      Other Sources of Funds

35616

-9.1

      Deposits and Advance Payments

21582

-11.1

      Personal Mortgage

9794

-4.9

 

 

 

 

 

Real Estate Investment in Eastern,

Central and Western Regions for January-September

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

68751

46725

12.5

11.3

Eastern

38737

26062

12.6

10.9

Central

14536

10260

10.7

12.0

Western

15479

10402

14.0

11.5

 

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern,

Central and Western Regions for January-September

 

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

77132

-8.6

49227

-8.9

Eastern

35908

-15.3

28418

-15.5

Central

20693

-2.9

10337

1.1

Western

20531

-0.6

10472

2.8

 

 

 

 

 

 

 

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 e 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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