National Real Estate Development and Sales in the First Six Months of 2017
National Bureau of Statistics of China2017-07-18 14:38




1. The completion of real estate investment

 

The total investment in real estate development in the first six months of 2017 was 5,061.0 billion yuan, a nominal increase of 8.5 percent year-on-year, the growth rate went down by 0.3 percentage points over the first five months of 2017. Of which, the investment in residential buildings was 3,431.8 billion yuan, up by 10.2 percent, 0.2 percentage points higher, accounted for 67.8 percent of real estate development investment.

 

 

In the first six months, the real estate investment in eastern region stood at 2,725.2 billion yuan, up by 8.4 percent year-on-year, and stayed in the same level over the first five months in 2017; the central region stood at 1,063.1 billion yuan, went up by 16.0 percent, and the growth rate was down by 0.9 percentage points; western region stood at 1,099.1 billion yuan, up by 6.8 percent, down by 0.2 percentage points; northeastern region reached 173.7 billion yuan, decreased 14.0 percent, the pace of drop rate narrowed 2.1 percentage points.

 

In the first six months, the floor space under construction by the real estate development enterprises accounted for 6,923.26 million square meters, a year-on-year increase of 3.4 percent, an increase of 0.3 percentage points over the first five months in 2017. Of which, the floor space of residential building construction area was 4,727.22 million square meters, up by 2.9 percent. The floor space started this year was 857.20 millions square meters, up by 10.6 percent, up by 1.1 percentage points. The floor space of residential buildings started in the year amounted to 613.99 million square meters, up by 14.9 percent. The floor space of buildings completed stood at 415.24 million square meters, went up by 5.0 percent, and went down by 0.9 percentage points. Of which, the floor space completed of residential buildings stood at 297.60 million square meters, went up by 2.5 percent.

 

In the first six months, the land area purchased by the real estate development enterprises totaled 103.41 million square meters, was up by 8.8 percent year-on-year, and the growth rate was up by 3.5 percentage points over the first five months in 2017. The total transaction of land reached 437.6 billion yuan, increased 38.5 percent, and the pace of increase went up 6.2 percentage points.

 

 

2. Sales of Commercial Buildings

 

In the first six months, the floor space of commercial buildings sold stood at 746.62 million square meters, a year-on-year increase of 16.1 percent, and was up by 1.8 percentage points over the first five months in 2017. Of the total, the floor space of residential buildings increased 13.5 percent, office building increased 38.8 percent, and buildings for business use increased 32.5 percent. The sales of commercial buildings amounted to 5,915.2 billion yuan, an increase of 21.5 percent, the rate of growth went up by 2.9 percentage points. Specifically, the sales of residential buildings went up by 17.9 percent, office buildings was up by 38.9 percent, buildings for commercial business increased 41.7 percent.

 

 

In the first six months, the sale of floor space of commercial buildings in eastern region amounted to 334.01 million square meters, the growth rate increased 11.7 percent year-on-year, the growth pace was up by 2.8 percentage points over the first five months in 2017. The amount of sales stood at 3,469.5 billion yuan, went up by 14.4 percent, the rate of growth expanded 2.9 percentage points. The sale of floor space of commercial buildings in central region amounted to 191.40 million square meters, increased 19.9 percent, and the pace of increase went up by 2.2 percentage points. The amount of sales stood at 1,139.8 billion yuan, increased 31.4 percent, and the pace of increase expanded by 4.5 percentage points. The sale of floor space of commercial buildings in western region amounted to 187.46 million square meters, increased 21.2 percent year-on-year up by 0.2 percentage points over the first five months in 2017.The amount of sales stood at 1,093.0 billion yuan, went up by 37.7 percent, the growth rate went up by 1 percentage point. The sale of floor space of commercial buildings in northeastern region amounted to 33.75 million square meters, rose by 13.3 percent, the growth rate was down by 5.5 percentage points. The amount of sales stood at 212.8 billion yuan, went up by 21.7 percent, the growth rate went down by 3.8 percentage points.

 

At the end of June, the floor space of commercial housing for sale reached 645.77 million square meters, decreased 14.41 million square meters compared with that at the end of May in 2017. Of which, the residential buildings for sale decreased 13.05 million square meters, office buildings decreased 0.60 million square meters, buildings for business use went down by 1.28 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first six months, the sources of funds for real estate development enterprises reached 757.65 billion yuan, up by 11.2 percent year-on-year, expanded 1.3 percentage points over the first five months in 2017. Specifically, the domestic loans stood at 1,335.2 billion yuan, increased 22.1 percent, foreign investment stood at 10.4 billion yuan, an increase of 58.9 percent, self-raising funds stood at 2,327.3 billion yuan, down by 2.3 percent, and other sources stood at 3,903.5 billion yuan, up by 17.2 percent. Among the other sources of funds, deposits and advance payments totaled 2,322.6 billion yuan, increased 22.7 percent, personal mortgage loans totaled 1,200.0 billion yuan, up by 6.7 percent.

 

 

4. National Real Estate Climate Index

 

In June, the national real estate climate index (the value released from this year was after revised by the based period) was 101.37, increased 0.19 points month-on-month.

 

 

Investment in Real Estate Development for January-June

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

50610

8.5

  Of which: Residential Buildings

34318

10.2

      Office Buildings

3159

4.8

      Buildings for Commercial Business

7589

5.0

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

692326

3.4

  Of which: Residential Buildings

472722

2.9

      Office Buildings

32709

3.7

      Buildings for Commercial Business

95666

2.9

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

85720

10.6

  Of which: Residential Buildings

61399

14.9

      Office Buildings

2956

-5.6

      Buildings for Commercial Business

10058

-4.6

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

41524

5.0

  Of which: Residential Buildings

29760

2.5

      Office Buildings

1590

31.1

      Buildings for Commercial Business

5170

7.6

 Land Acquisition Area (10,000 sq.m)

10341

8.8

 Value of Land Transactions (100 million yuan)

4376

38.5

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

74662

16.1

  Of which: Residential Buildings

64791

13.5

      Office Buildings

2076

38.8

      Buildings for Business Use

5133

32.5

 Sales of Commercial Buildings (100 million yuan)

59152

21.5

  Of which: Residential Buildings

49298

17.9

      Office Buildings

2932

38.9

      Buildings for Commercial Business

5460

41.7

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

64577

-9.6

  Of which: Residential Buildings

35169

-19.3

      Office Buildings

3646

8.6

      Buildings for Commercial Business

15793

3.5

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

75765

11.2

  Of which: Domestic Loans

13352

22.1

      Foreign Investment

104

58.9

      Self-raising Funds

23273

-2.3

      Other Sources of Funds

39035

17.2

      Deposits and Advance Payments

23226

22.7

      Personal Mortgage

12000

6.7

 

 

 

 

Real Estate Investment in Eastern,

Central and Western Regions for January-June

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

50610

34318

8.5

10.2

Eastern

27252

18563

8.4

10.6

Central

10631

7431

16.0

15.8

Western

10991

7077

6.8

8.8

Northeastern

1737

1248

-14.0

-13.4

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern,

 Central and Western Regions for January-June

 

Regions

Floor Space of Commercial Buildings Sold

Sales of Commercial Buildings

Absolute

Value

(1000 Sq.m)

Growth Rate Y/Y (%)

Absolute

Value

(100 million yuan)

Growth Rate Y/Y (%)

 

 

 

 

 

National Total

74662

16.1

59152

21.5

Eastern

33401

11.7

34695

14.4

Central

19140

19.9

11398

31.4

Western

18746

21.2

10930

37.7

Northeastern

3375

13.3

2128

21.7

 

 

 

 

 

  

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

 

The national real estate climate index follows the theory of economic cycle fluctuation, based on the business cycle theory and business cycle analysis, using time series, multivariate statistics, econometric analysis, taking real estate development and investment as the benchmarks, selecting related indicators such as real estate investment, capital, area, sales, excluding the impact of seasonal factors, including random factors, compiled by adopting the growth rate cycles method. The historical data will be revised monthly according to the newly added data. National real estate index selected year 2012 as the base year, and its growth rate was 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, western and northeastern regions

 

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

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