National Real Estate Development and Sales in the First Nine Months of 2017
National Bureau of Statistics of China2017-10-23 14:03




1. The completion of real estate investment

 

The total investment in real estate development in the first nine months of 2017 was 8,064.4 billion yuan, a nominal increase of 8.1 percent year-on-year, the growth rate increased 0.2 percentage points over the first eight months of 2017. Of which, the investment in residential buildings was 5,510.9 billion yuan, up by 10.4 percent, 0.3 percentage points higher, accounted for 68.3 percent of real estate development investment.

 

 

In the first nine months, the real estate investment in eastern region stood at 4,286.9 billion yuan, up by 9.0 percent year-on-year, and the growth rate was up by 0.2 percentage points over the first eight months in 2017; the central region stood at 1,716.9 billion yuan, went up by 13.3 percent, and the growth rate remained the same level; western region stood at 1,741.0 billion yuan, up by 3.6 percent, down by 0.4 percentage points; northeastern region reached 319.7 billion yuan, decreased 3.3 percent, the pace of drop rate narrowed 4.1 percentage points.

 

In the first nine months, the floor space under construction by the real estate development enterprises accounted for 7,380.65 million square meters, a year-on-year increase of 3.1 percent, stayed in the same level over the first eight months in 2017. Of which, the floor space of residential building construction area was 5,053.30 million square meters, up by 2.9 percent. The floor space started this year was 1,310.33 millions square meters, up by 6.8 percent, and the growth rate was down by 0.8 percentage points. The floor space of residential buildings started in the year amounted to 941.13 million square meters, up by 11.1 percent. The floor space of buildings completed stood at 576.94 million square meters, went up by 1.0 percent, and the pace of growth rate went down by 2.4 percentage point. Of which, the floor space completed of residential buildings stood at 412.60 million square meters, went down by 1.9 percent.

 

In the first nine months, the land area purchased by the real estate development enterprises totaled 167.33 million square meters, was up by 12.2 percent year-on-year, and the growth rate was up by 2.1 percentage points over the first eight months in 2017. The total transaction of land reached 814.9 billion yuan, increased 46.3 percent, and the pace of growth rate went up 3.6 percentage points.

 

 

2. Sales of Commercial Buildings

 

In the first nine months, the floor space of commercial buildings sold stood at 1,160.06 million square meters, a year-on-year increase of 10.3 percent, and was down by 2.4 percentage points over the first eight months in 2017. Of the total, the floor space of residential buildings increased 7.6 percent, office building increased 32.7 percent, and buildings for business use increased 23.7 percent. The sales of commercial buildings amounted to 9,190.4 billion yuan, an increase of 14.6 percent, the rate of growth went down by 2.6 percentage points. Specifically, the sales of residential buildings went up by 11.4 percent, office buildings was up by 25.2 percent, buildings for commercial business increased 31.8 percent.

 

 

In the first nine months, the sale of floor space of commercial buildings in eastern region amounted to 506.56 million square meters, the growth rate increased 5.5 percent year-on-year, the growth pace was down by 2.4 percentage points over the first eight months in 2017. The amount of sales stood at 5266.2 billion yuan, went up by 6.9 percent, the rate of growth narrowed 2.9 percentage points. The sale of floor space of commercial buildings in central region amounted to 305.21 million square meters, increased 13.9 percent, and the pace of increase went down by 2.7 percentage points. The amount of sales stood at 1,845.4 billion yuan, increased 23.5 percent, and the pace of increase narrowed by 2.5 percentage points. The sale of floor space of commercial buildings in western region amounted to 289.68 million square meters, increased 16.0 percent year-on-year down by 2.6 percentage points over the first eight months in 2017.The amount of sales stood at 1,699.7 billion yuan, went up by 32.0 percent, the growth rate went down by 3.1 percentage points. The sale of floor space of commercial buildings in northeastern region amounted to 58.62 million square meters, rose by 8.0 percent, the growth rate went down 1 percentage point over the last seven months of 2017. The amount of sales stood at 379.0 billion yuan, went up by 21.5 percent, the growth rate went up by 2 percentage points.

 

At the end of September, the floor space of commercial housing for sale reached 611.40 million square meters, decreased 12.12 million square meters compared with that at the end of August in 2017. Of which, the residential buildings for sale decreased 9.38 million square meters, office buildings decreased 0.67 million square meters, buildings for business use went down by 1.38 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 11,309.5 billion yuan, up by 8.0 percent year-on-year, narrowed 1 percentage point over the first eight months in 2017. Specifically, the domestic loans stood at 1,900.3 billion yuan, increased 19.5 percent, foreign investment stood at 11.3 billion yuan, an increase of 0.9 percent, self-raising funds stood at 3,645.1 billion yuan, down by 0.3 percent, and other sources stood at 5,752.8 billion yuan, up by 10.4 percent. Among the other sources of funds, deposits and advance payments totaled 3,461.0 billion yuan, increased 16.9 percent, personal mortgage loans totaled 1,773.9 billion yuan, up by 1.3 percent.

 

 

 

4. National Real Estate Climate Index

 

In September, the national real estate climate index (the value released from this year was after revised by the based period) was 101.44, up by 0.02 month-on-month.

  

 

 

Investment in Real Estate Development for January-September

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

80644

8.1

  Of which: Residential Buildings

55109

10.4

      Office Buildings

4978

5.4

      Buildings for Commercial Business

11710

1.4

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

738065

3.1

  Of which: Residential Buildings

505330

2.9

      Office Buildings

34366

2.5

      Buildings for Commercial Business

101164

1.9

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

131033

6.8

  Of which: Residential Buildings

94113

11.1

      Office Buildings

4478

-9.5

      Buildings for Commercial Business

15340

-8.0

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

57694

1.0

  Of which: Residential Buildings

41260

-1.9

      Office Buildings

2244

36.1

      Buildings for Commercial Business

7322

7.5

 Land Acquisition Area (10,000 sq.m)

16733

12.2

 Value of Land Transactions (100 million yuan)

8149

46.3

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

116006

10.3

  Of which: Residential Buildings

100131

7.6

      Office Buildings

3251

32.7

      Buildings for Business Use

8198

23.7

 Sales of Commercial Buildings (100 million yuan)

91904

14.6

  Of which: Residential Buildings

76442

11.4

      Office Buildings

4448

25.2

      Buildings for Commercial Business

8620

31.8

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

61140

-12.2

  Of which: Residential Buildings

32256

-22.0

      Office Buildings

3537

6.1

      Buildings for Commercial Business

15504

0.2

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

113095

8.0

  Of which: Domestic Loans

19003

19.5

      Foreign Investment

113

0.9

      Self-raising Funds

36451

-0.3

      Other Sources of Funds

57528

10.4

      Deposits and Advance Payments

34610

16.9

      Personal Mortgage

17739

1.3

 

 

 

 

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

80644

55109

8.1

10.4

Eastern

42869

29415

9.0

11.2

Central

17169

12149

13.3

15.2

Western

17410

11262

3.6

6.5

Northeastern

3197

2283

-3.3

-2.8

 

 

 

 

 

 

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

116006

10.3

91904

14.6

Eastern

50656

5.5

52662

6.9

Central

30521

13.9

18454

23.5

Western

28968

16.0

16997

32.0

Northeastern

5862

8.0

3790

21.5

 

 

 

 

 

 

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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