National Real Estate Development and Sales in the First Nine Months of 2018
National Bureau of Statistics of China2018-10-19 15:56




1. The completion of real estate investment

 

The total investment in real estate development in the first nine months of 2018 was 8,866.5 billion yuan, an increase of 9.9 percent year-on-year, the growth rate decreased 0.2 percentage point over the first eight months of 2018. Of which, the investment in residential buildings was 6,280.6 billion yuan, up by 14.0 percent, the growth rate decreased 0.1 percentage point, accounted for 70.8 percent of real estate development investment.

 

 

In the first nine months, the real estate investment in eastern region stood at 4,760.3 billion yuan, up by 11.0 percent year-on-year, the growth rate decreased 0.2 percentage point over the first eight months of 2018; the central region stood at 1,861.2 billion yuan, went up by 8.4 percent, and the growth rate decreased 1.3 percentage points; western region stood at 1,872.5 billion yuan, up by 7.5 percent, up by 0.9 percentage point; northeastern region reached 372.5 billion yuan, increased 16.5 percent, the growth rate decreased 0.8 percentage point.

 

In the first nine months, the floor space under construction by the real estate development enterprises accounted for 7,672.18 million square meters, a year-on-year increase of 3.9 percent, increased 0.3 percentage point over the first eight months in 2018. Of which, the floor space of residential building construction area was 5,302.51 million square meters, up by 4.9 percent. The floor space started this year was 1,525.83 millions square meters, up by 16.4 percent, and the growth rate was up by 0.5 percentage points. The floor space of residential buildings started in the year amounted to 1,124.11 million square meters, up by 19.4 percent. The floor space of buildings completed stood at 511.32 million square meters, went down by 11.4 percent, and the pace of decline narrowed 0.2 percentage point. Of which, the floor space completed of residential buildings stood at 361.66 million square meters, went down by 12.3 percent.

 

In the first nine months, the land area purchased by the real estate development enterprises totaled 193.66 million square meters, was up by 15.7 percent year-on-year, and the growth rate was up by 0.1 percent over the first eight months in 2018. The total transaction of land reached 1,000.2 billion yuan, increased 22.7 percent, and the pace of growth rate went down by 1.0 percentage point.

 

 

2. Sales of Commercial Buildings

 

In the first nine months, the floor space of commercial buildings sold stood at 1,193.13 million square meters, a year-on-year increase of 2.9 percent, and was down by 1.1 percentage points over the first eight months in 2018. Of the total, the floor space of residential buildings increased 3.3 percent, office building decreased 9.3 percent, and buildings for business use decreased 1.1 percent. The sales of commercial buildings amounted to 10,413.2 billion yuan, an increase of 13.3 percent, the rate of growth went down by 1.2 percentage points. Specifically, the sales of residential buildings went up by 15.6 percent, office buildings was down by 5.0 percent, buildings for commercial business increased 3.0 percent.

 

 

In the first nine months, the sale of floor space of commercial buildings in eastern region amounted to 484.62 million square meters, decreased 4.3 percent year-on-year, the pace of decline expanded 0.7 percentage point over the first eight months in 2018. The amount of sales stood at 5,582 billion yuan, up by 6.0 percent, and the growth rate was down by 0.5 percentage point over the first eight months in 2018. The sale of floor space of commercial buildings in central region amounted to 336.34 million square meters, increased 10.2 percent, and the growth rate went down by 1.9 percentage points. The amount of sales stood at 2,264.3 billion yuan, increased 22.7 percent, the rate of growth went down by 3.1 percentage points. The sale of floor space of commercial buildings in western region amounted to 315.57 million square meters, increased 8.9 percent, down by 1.5 percentage points; The amount of sales stood at 2,151.1 billion yuan, went up by 26.6 percent, the growth rate went down by 1.6 percentage point. The sale of floor space of commercial buildings in northeastern region amounted to 56.59 million square meters, went down by 3.5 percent, and the pace of decline expanded 0.3 percentage point. The amount of sales stood at 415.8 billion yuan, went up by 9.7 percent, the growth rate went down by 0.7 percentage point.

 

At the end of September, the floor space of commercial housing for sale reached 531.91 million square meters, decreased 6.82 million square meters compared with that at the end of July in 2018. Of which, the residential buildings for sale decreased 4.37 million square meters, office buildings increased 0.26 million square meters, buildings for business use went down by 1.72 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 12,188.2 billion yuan, up by 7.8 percent year-on-year, increased 0.9 percentage point over the first eight months in 2018. Specifically, the domestic loans stood at 1,804.1 billion yuan, decreased 5.1 percent; foreign investment stood at 4.3 billion yuan, a decrease of 61.7 percent, self-raising funds stood at 4,059.6 billion yuan, up by 11.4 percent, deposits and advance payments totaled 4,025.9 billion yuan, increased 16.3 percent, personal mortgage loans totaled 1,752.2 billion yuan, down by 1.2 percent.

 

 

 

4. National Real Estate Climate Index

 

In September, the national real estate climate index was 101.99, up by 0.01 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)

88665

9.9

  Of which: Residential Buildings

62806

14.0

      Office Buildings

4409

-11.4

      Buildings for Commercial Business

10650

-9.1

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

767218

3.9

  Of which: Residential Buildings

530251

4.9

      Office Buildings

34167

-0.6

      Buildings for Commercial Business

97814

-3.3

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

152583

16.4

  Of which: Residential Buildings

112411

19.4

      Office Buildings

4332

-3.3

      Buildings for Commercial Business

14412

-6.0

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

51132

-11.4

  Of which: Residential Buildings

36166

-12.3

      Office Buildings

1939

-13.6

      Buildings for Commercial Business

6393

-12.7

 Land Acquisition Area (10,000 sq.m)

19366

15.7

 Value of Land Transactions (100 million yuan)

10002

22.7

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

119313

2.9

  Of which: Residential Buildings

103479

3.3

      Office Buildings

2949

-9.3

      Buildings for Business Use

8110

-1.1

 Sales of Commercial Buildings (100 million yuan)

104132

13.3

  Of which: Residential Buildings

88364

15.6

      Office Buildings

4224

-5.0

      Buildings for Commercial Business

8881

3.0

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

53191

-13.0

  Of which: Residential Buildings

26010

-19.4

      Office Buildings

3545

0.2

      Buildings for Commercial Business

14021

-9.6

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

121882

7.8

  Of which: Domestic Loans

18041

-5.1

      Foreign Investment

43

-61.7

      Self-raising Funds

40596

11.4

      Deposits and Advance Payments

40259

16.3

      Personal Mortgage

17522

-1.2

 

 

 

 

Real Estate Investment in Eastern, January- September

Central and Western Regions for

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

88665

62806

9.9

14.0

Eastern

47603

33694

11.0

14.5

Central

18612

13814

8.4

13.7

Western

18725

12584

7.5

11.7

Northeastern

3725

2714

16.5

18.9

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern, January- September

Central and Western Regions for

 

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

119313

2.9

104132

13.3

Eastern

48462

-4.3

55820

6.0

Central

33634

10.2

22643

22.7

Western

31557

8.9

21511

26.6

Northeastern

5659

-3.5

4158

9.7

 

 

 

 

 

 

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-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 cannot 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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