National Real Estate Development and Sales in the First Three months of 2018
National Bureau of Statistics of China2018-04-19 16:27




1. The completion of real estate investment

 

The total investment in real estate development in the first three months of 2018 was 2,129.1 billion yuan, a nominal increase of 10.4 percent year-on-year, the growth rate increased 0.5 percentage points over the first two months of 2018. Of which, the investment in residential buildings was 1,470.5 billion yuan, up by 13.3 percent, 1 percentage point higher, accounted for 69.1 percent of real estate development investment.

 

 

 

In the first three months, the real estate investment in eastern region stood at 1,227.7 billion yuan, up by 11.8 percent year-on-year, and the growth rate was up  by 0.2 percentage points over the first two months in 2018; the central region stood at 444.3 billion yuan, went up by 15.0 percent, and the growth rate increased 1.6 percentage points ; western region stood at 412.2 billion yuan, up by 2.9 percent, down by 0.8 percentage points; northeastern region reached 44.9 billion yuan, increased 1.3 percent, the pace of the first two months of 2018 was a decrease of 15.3 percent.

 

In the first three months, the floor space under construction by the real estate development enterprises accounted for 6,465.56 million square meters, a year-on-year increase of 1.5 percent, stayed the same level over the first two months in 2018. Of which, the floor space of residential building construction area was 4,415.40 million square meters, up by 1.9 percent. The floor space started this year was 346.15 millions square meters, up by 9.7 percent, and the growth rate was up by 6.8 percentage points. The floor space of residential buildings started in the year amounted to 255.31 million square meters, up by 12.2 percent. The floor space of buildings completed stood at 207.09 million square meters, went down by 10.1 percent, and the pace of decline rate narrowed 2 percentage points. Of which, the floor space completed of residential buildings stood at 141.98 million square meters, went down by 14.0 percent.

 

In the first three months, the land area purchased by the real estate development enterprises totaled 38.02 million square meters, was up by 0.5 percent year-on-year, and the growth rate was down by 1.2 percentage points over the first two months in 2018. The total transaction of land reached 163.4 billion yuan, increased 20.3 percent, and the pace of growth rate went up by 20.3 percentage points.

 

 

 

2. Sales of Commercial Buildings

 

In the first three months, the floor space of commercial buildings sold stood at 300.88 million square meters, a year-on-year increase of 3.6 percent, and was down by 0.5 percentage points over the first two months in 2018. Of the total, the floor space of residential buildings increased 2.5 percent, office building decreased 2.8 percent, and buildings for business use increased 9.6 percent. The sales of commercial buildings amounted to 2,559.7 billion yuan, an increase of 10.4 percent, the rate of growth went down by 4.9 percentage points. Specifically, the sales of residential buildings went up by 11.4 percent, office buildings was down by 8.2 percent, buildings for commercial business increased 7.9 percent.

 

 

 

In the first three months, the sale of floor space of commercial buildings in eastern region amounted to 124.91 million square meters, the growth rate decreased 7.3 percent year-on-year, the pace of decline rate expanded 1.8 percentage points over the first two months in 2018. The amount of sales stood at 1,412.6 billion yuan, went down by 0.9 percent, that of the first two months was an increase of 6.7 percent. The sale of floor space of commercial buildings in central region amounted to 82.64 million square meters, increased 14.6 percent, and the pace of increase went up by 3.9 percentage points. The amount of sales stood at 531.9 billion yuan, increased 28.2 percent, and the pace of increase expanded by 3.1 percentage points. The sale of floor space of commercial buildings in western region amounted to 83.76 million square meters, increased 12.0 percent year-on-year down by 1 percentage point over the first two months in 2018.The amount of sales stood at 543.0 billion yuan, went up by 29.0 percent, the growth rate went down by 1.2 percentage points. The sale of floor space of commercial buildings in northeastern region amounted to 9.57 million square meters, rose by 8.5 percent, the growth rate went down 6.7 percentage points over the last nine months of 2018. The amount of sales stood at 7.23 billion yuan, went up by 26.6 percent, the growth rate went down by 8.6 percentage points.

 

At the end of March, the floor space of commercial housing for sale reached 573.29 million square meters, decreased 11.38 million square meters compared with that at the end of February in 2018. Of which, the residential buildings for sale decreased 9.54 million square meters, office buildings increased 0.43 million square meters, buildings for business use went down by 2.03 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first three months, the sources of funds for real estate development enterprises reached 3,677.0 billion yuan, up by 3.1 percent year-on-year, narrowed 1.7 percentage points over the first two months in 2018. Specifically, the domestic loans stood at 695.7 billion yuan, increased 0.9 percent, foreign investment stood at 1.6 billion yuan, an decrease of 78.4 percent, self-raising funds stood at 1,144.9 billion yuan, up by 5.1 percent, deposits and advance payments totaled 1,113.0 billion yuan, increased 11.2 percent, personal mortgage loans totaled 516.0 billion yuan, down by 6.8 percent.

 

 

4. National Real Estate Climate Index

 

In March, the national real estate climate index (the value released from this year was after revised by the based period) was 101.50, down by 0.16 month-on-month.

 

 

 

Investment in Real Estate Development for January-March

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

21291

10.4

  Of which: Residential Buildings

14705

13.3

      Office Buildings

1193

-0.1

      Buildings for Commercial Business

2743

-6.5

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

646556

1.5

  Of which: Residential Buildings

441540

1.9

      Office Buildings

30849

0.3

      Buildings for Commercial Business

86559

-3.3

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

34615

9.7

  Of which: Residential Buildings

25531

12.2

      Office Buildings

1105

-2.3

      Buildings for Commercial Business

3441

-10.7

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

20709

-10.1

  Of which: Residential Buildings

14198

-14.0

      Office Buildings

941

-0.2

      Buildings for Commercial Business

2676

-7.2

 Land Acquisition Area (10,000 sq.m)

3802

0.5

 Value of Land Transactions (100 million yuan)

1634

20.3

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

30088

3.6

  Of which: Residential Buildings

26114

2.5

      Office Buildings

754

-2.8

      Buildings for Business Use

2021

9.6

 Sales of Commercial Buildings (100 million yuan)

25597

10.4

  Of which: Residential Buildings

21609

11.4

      Office Buildings

1103

-8.2

      Buildings for Commercial Business

2207

7.9

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

57329

-16.7

  Of which: Residential Buildings

29167

-25.4

      Office Buildings

3637

-4.0

      Buildings for Commercial Business

14639

-8.6

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

36770

3.1

  Of which: Domestic Loans

6957

0.9

      Foreign Investment

16

-78.4

      Self-raising Funds

11449

5.1

      Deposits and Advance Payments

11130

11.2

      Personal Mortgage

5160

-6.8

 

 

 

 

Real Estate Investment in Eastern,

Central and Western Regions for January-March

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

21291

14705

10.4

13.3

Eastern

12277

8470

11.8

14.1

Central

4443

3200

15.0

19.0

Western

4122

2725

2.9

6.9

Northeastern

449

310

1.3

-3.0

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern,

Central and Western Regions for January-March

 

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

30088

3.6

25597

10.4

Eastern

12491

-7.3

14126

-0.9

Central

8264

14.6

5319

28.2

Western

8376

12.0

5430

29.0

Northeastern

957

8.5

723

26.6

 

 

 

 

 

 

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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