National Real Estate Development and Sales in the First Eight Months of 2017
National Bureau of Statistics of China2017-09-15 16:02




1. The completion of real estate investment

 

The total investment in real estate development in the first eight months of 2017 was 6,949.4 billion yuan, a nominal increase of 7.9 percent year-on-year, the growth rate remained the same level over the first seven months of 2017. Of which, the investment in residential buildings was 4,744.0 billion yuan, up by 10.1 percent, 0.1 percentage point higher, accounted for 68.3 percent of real estate development investment.

 

 

In the first eight months, the real estate investment in eastern region stood at 3,709.9 billion yuan, up by 8.8 percent year-on-year, and the growth rate was up by 0.3 percentage points over the first seven months in 2017; the central region stood at 1,477.3 billion yuan, went up by 13.3 percent, and the growth rate was down by 0.5 percentage points; western region stood at 1, 496.6 billion yuan, up by 4.0 percent, down by 1.1 percentage points; northeastern region reached 265.5 billion yuan, decreased 7.4 percent, the pace of drop rate narrowed 3.9 percentage points.

 

In the first eight months, the floor space under construction by the real estate development enterprises accounted for 7,217.81 million square meters, a year-on-year increase of 3.1 percent, a decrease of 0.1 percentage point over the first seven months in 2017. Of which, the floor space of residential building construction area was 4,932.75 million square meters, up by 2.8 percent. The floor space started this year was 1,149.96 millions square meters, up by 7.6 percent, and the growth rate was down by 0.4 percentage points. The floor space of residential buildings started in the year amounted to 821.31 million square meters, up by 11.6 percent. The floor space of buildings completed stood at 522.96 million square meters, went up by 3.4 percent, and went up by 1 percentage point. Of which, the floor space completed of residential buildings stood at 374.13 million square meters, went up by 0.5 percent.

 

In the first eight months, the land area purchased by the real estate development enterprises totaled 142.29 million square meters, was up by 10.1 percent year-on-year, and the growth rate was down by 1 percentage point over the first seven months in 2017. The total transaction of land reached 660.9 billion yuan, increased 42.7 percent, and the pace of increase went up 1.7 percentage points.

 

 

2. Sales of Commercial Buildings

 

In the first eight months, the floor space of commercial buildings sold stood at 985.39 million square meters, a year-on-year increase of 12.7 percent, and was down by 1.3 percentage points over the first seven months in 2017. Of the total, the floor space of residential buildings increased 10.3 percent, office building increased 32.3 percent, and buildings for business use increased 26.9 percent. The sales of commercial buildings amounted to 7,809.6 billion yuan, an increase of 17.2 percent, the rate of growth went down by 1.7 percentage points. Specifically, the sales of residential buildings went up by 14.2 percent, office buildings was up by 26.6 percent, buildings for commercial business increased 35.4 percent.

 

 

In the first eight months, the sale of floor space of commercial buildings in eastern region amounted to 433.71 million square meters, the growth rate increased 7.9 percent year-on-year, the growth pace was down by 1.4 percentage points over the first seven months in 2017. The amount of sales stood at 4,514.7 billion yuan, went up by 9.8 percent, the rate of growth narrowed 1.9 percentage points. The sale of floor space of commercial buildings in central region amounted to 255.57 million square meters, increased 16.6 percent, and the pace of increase went down by 1.4 percentage points. The amount of sales stood at 1,531.2 billion yuan, increased 26.0 percent, and the pace of increase narrowed by 2 percentage points. The sale of floor space of commercial buildings in western region amounted to 246.66 million square meters, increased 18.6 percent year-on-year down by 1.4 percentage points over the first seven months in 2017.The amount of sales stood at 1,446.1 billion yuan, went up by 35.1 percent, the growth rate went down by 1.4 percentage points. The sale of floor space of commercial buildings in northeastern region amounted to 49.45 million square meters, rose by 9.0 percent, the growth rate remained the same level over the last seven months of 2017. The amount of sales stood at 317.6 billion yuan, went up by 19.5 percent, the growth rate went up by 0.4 percentage points.

 

At the end of August, the floor space of commercial housing for sale reached 623.52 million square meters, decreased 11.44 million square meters compared with that at the end of July in 2017. Of which, the residential buildings for sale decreased 9.87 million square meters, office buildings decreased 0.43 million square meters, buildings for business use went down by 0.87 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 998.04 billion yuan, up by 9.0 percent year-on-year, narrowed 0.7 percentage points over the first seven months in 2017. Specifically, the domestic loans stood at 1,690.4 billion yuan, increased 19.0 percent, foreign investment stood at 11.2 billion yuan, an increase of 15.4 percent, self-raising funds stood at 3,143.9 billion yuan, down by 1.7 percent, and other sources stood at 5,134.9 billion yuan, up by 13.4 percent. Among the other sources of funds, deposits and advance payments totaled 3,078.6 billion yuan, increased 20.0 percent, personal mortgage loans totaled 1,576.4 billion yuan, up by 2.4 percent.

 

 

4. National Real Estate Climate Index

 

In August, the national real estate climate index (the value released from this year was after revised by the based period) was 101.42, remained in the same level month-on-month.

 

Investment in Real Estate Development for January-August

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

69494

7.9

  Of which: Residential Buildings

47440

10.1

      Office Buildings

4284

4.8

      Buildings for Commercial Business

10195

2.4

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

721781

3.1

  Of which: Residential Buildings

493275

2.8

      Office Buildings

33848

3.0

      Buildings for Commercial Business

99362

2.3

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

114996

7.6

  Of which: Residential Buildings

82131

11.6

      Office Buildings

4048

-6.4

      Buildings for Commercial Business

13629

-7.0

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

52296

3.4

  Of which: Residential Buildings

37413

0.5

      Office Buildings

2022

43.7

      Buildings for Commercial Business

6551

7.7

 Land Acquisition Area (10,000 sq.m)

14229

10.1

 Value of Land Transactions (100 million yuan)

6609

42.7

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

98539

12.7

  Of which: Residential Buildings

85448

10.3

      Office Buildings

2722

32.3

      Buildings for Business Use

6818

26.9

 Sales of Commercial Buildings (100 million yuan)

78096

17.2

  Of which: Residential Buildings

65156

14.2

      Office Buildings

3779

26.6

      Buildings for Commercial Business

7238

35.4

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

62352

-12.0

  Of which: Residential Buildings

33194

-22.0

      Office Buildings

3604

6.6

      Buildings for Commercial Business

15643

0.8

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

99804

9.0

  Of which: Domestic Loans

16904

19.0

      Foreign Investment

112

15.4

      Self-raising Funds

31439

-1.7

      Other Sources of Funds

51349

13.4

      Deposits and Advance Payments

30786

20.0

      Personal Mortgage

15764

2.4

 

 

 

 

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

69494

47440

7.9

10.1

Eastern

37099

25469

8.8

11.4

Central

14773

10395

13.3

14.3

Western

14966

9661

4.0

6.4

Northeastern

2655

1914

-7.4

-6.1

 

 

 

 

 

 

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

(1000 Sq.m)

Growth Rate Y/Y (%)

 

Absolute

Value

(100 million yuan)

 

Growth Rate Y/Y (%)

 

 

 

 

 

National Total

98539

12.7

78096

17.2

Eastern

43371

7.9

45147

9.8

Central

25557

16.6

15312

26.0

Western

24666

18.6

14461

35.1

Northeastern

4945

9.0

3176

19.5

 

 

 

 

 

 

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-story 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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