National Real Estate Development and Sales in the First Twelve Months of 2018
National Bureau of Statistics of China2019-01-24 13:33




1. The completion of real estate investment

 

The total investment in real estate development in the first Twelve months of 2018 was 12,026.4 billion yuan, an increase of 9.5 percent year-on-year, the growth rate decreased 0.2 percentage point over the first eleven months, 2.5 percentage points higher than the same period of 2017. Of which, the investment in residential buildings was 8,519.2 billion yuan, up by 13.4 percent, the growth rate decreased 0.2 percentage point over the first eleven month, 4.0 percentage point higher than 2017. Accounted for 70.8 percent of real estate development investment.

 

 

In 2018, the real estate investment in eastern region stood at 6,435.5 billion yuan, up by 10.9 percent year-on-year, the growth rate decreased 0.4 percentage point over the first eleven months of 2018; the central region stood at 2,518 billion yuan, went up by 5.4 percent, and the growth rate decreased 0.5 percentage point; western region stood at 2,600.9 billion yuan, up by 8.9 percent, up by 0.7 percentage point; northeastern region reached 472 billion yuan, increased 17.5 percent, the growth rate increased 1.3 percentage points.

 

In 2018, the floor space under construction by the real estate development enterprises accounted for 8,223 million square meters, a year-on-year increase of 5.2 percent, increased 0.5 percentage point over the first eleven months, and 2.2 percentage points higher than 2017. Of which, the floor space of residential building construction area was 5,699.87 million square meters, up by 6.3 percent. The floor space started this year was 2,093.42 millions square meters, up by 17.2 percent, and the growth rate was up by 0.4 percentage point, and 10.2 percentage points higher than 2017. The floor space of residential buildings started in the year amounted to 1,533.53 million square meters, up by 19.7 percent. The floor space of buildings completed stood at 935.5 million square meters, went down by 7.8 percent, and the pace of decline narrowed 4.5 percentage points, and 3.4 percentage points expanded than 2017. Of which, the floor space completed of residential buildings stood at 660.16 million square meters, went down by 8.1 percent.

 

In 2018, the land area purchased by the real estate development enterprises totaled 291.42 million square meters, was up by 14.2 percent year-on-year, and the growth rate was down by 0.1 percentage point over the first eleven months in 2018, and 1.6 percentage points lower than 2017. The total transaction of land reached 1,610.2 billion yuan, increased 18 percent, and the pace of growth rate went down by 2.2 percentage point over the first eleven months, and 31.4 percentage points lower than 2017.

 

 

2. Sales of Commercial Buildings

 

In 2018, the floor space of commercial buildings sold stood at 1,716.54 million square meters, a year-on-year increase of 1.3 percent, and was down by 0.1 percentage point over the first eleven months, and 6.4 percentage points lower than 2017. Of the total, the floor space of residential buildings increased 2.2 percent, office building decreased 8.3 percent, and buildings for business use decreased 6.8 percent. The sales of commercial buildings amounted to 14,997.3 billion yuan, an increase of 12.2 percent, the rate of growth quickly went up by 0.1 percentage point, and 1.5 percentage points lower than 2017. Specifically, the sales of residential buildings went up by 14.7 percent, office buildings was down by 2.6 percent, buildings for commercial business increased 0.7 percent.

 

 

In 2017, the sale of floor space of commercial buildings in eastern region amounted to 676.41 million square meters, decreased 5.0 percent year-on-year, the pace of decline narrowed 0.1 percentage point over the first eleven months in 2018. The amount of sales stood at 7,925.8 billion yuan, up by 6.5 percent, and the growth rate was up by 0.9 percentage point over the first eleven months in 2018. The sale of floor space of commercial buildings in central region amounted to 506.95 million square meters, increased 6.8 percent, and the growth rate went down by 1.1 percentage points. The amount of sales stood at 3,384.8 billion yuan, increased 18.1 percent, the rate of growth went down by 2.5 percentage points. The sale of floor space of commercial buildings in western region amounted to 453.96 million square meters, increased 6.9 percent, up by 0.3 percentage point; The amount of sales stood at 3,112.7 billion yuan, went up by 23.4 percent, the growth rate went down by 0.1 percentage point. The sale of floor space of commercial buildings in northeastern region amounted to 79.22 million square meters, went down by 4.4 percent, and the pace of decline unchanged with the first eleven month. The amount of sales stood at 574 billion yuan, went up by 7.0 percent, the growth rate went down by 0.3 percentage point.

 

At the end of 2018, the floor space of commercial housing for sale reached 524.14 million square meters, decreased 2.14 million square meters compared with that at the end of November in 2018, and 65.1 million square meters decreased at the end of 2017. Of which, the residential buildings for sale decreased 3.93 million square meters than the end of November, office buildings increased 0.93 million square meters, buildings for business use went down by 1.66 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In 2018, the sources of funds for real estate development enterprises reached 16,596.3 billion yuan, up by 6.4 percent year-on-year, decreased 1.2 percentage points over the first eleven months in 2018, and 1.8 percentage points lower than 2017. Specifically, the domestic loans stood at 2,400.5 billion yuan, decreased 4.9 percent; foreign investment stood at 10.8 billion yuan, a decrease of 35.8 percent, self-raising funds stood at 5,583.1 billion yuan, up by 9.7 percent, deposits and advance payments totaled 5,541.8 billion yuan, increased 13.8 percent, personal mortgage loans totaled 2,370.6 billion yuan, down by 0.8 percent.

 

 

4. National Real Estate Climate Index

 

In December, the national real estate climate index was 101.85, down by 0.09 month-on-month.

 

 

Investment in Real Estate Development for January-December

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

120264

9.5

  Of which: Residential Buildings

85192

13.4

      Office Buildings

5996

-11.3

      Buildings for Commercial Business

14177

-9.4

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

822300

5.2

  Of which: Residential Buildings

569987

6.3

      Office Buildings

35842

-0.5

      Buildings for Commercial Business

102629

-2.5

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

209342

17.2

  Of which: Residential Buildings

153353

19.7

      Office Buildings

6049

-1.5

      Buildings for Commercial Business

20066

-2.0

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

93550

-7.8

  Of which: Residential Buildings

66016

-8.1

      Office Buildings

3884

-3.1

      Buildings for Commercial Business

11259

-11.1

 Land Acquisition Area (10,000 sq.m)

29142

14.2

 Value of Land Transactions (100 million yuan)

16102

18.0

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

171654

1.3

  Of which: Residential Buildings

147929

2.2

      Office Buildings

4363

-8.3

      Buildings for Business Use

11971

-6.8

 Sales of Commercial Buildings (100 million yuan)

149973

12.2

  Of which: Residential Buildings

126393

14.7

      Office Buildings

6277

-2.6

      Buildings for Commercial Business

13349

0.7

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

52414

-11.0

  Of which: Residential Buildings

25091

-16.8

      Office Buildings

3649

-0.4

      Buildings for Commercial Business

13793

-9.3

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

165963

6.4

  Of which: Domestic Loans

24005

-4.9

      Foreign Investment

108

-35.8

      Self-raising Funds

55831

9.7

      Deposits and Advance Payments

55418

13.8

      Personal Mortgage

23706

-0.8

 

 

 

 

Real Estate Investment in Eastern, January- December

Central and Western Regions for

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

120264

85192

9.5

13.4

Eastern

64355

45352

10.9

14.0

Central

25180

18805

5.4

10.6

Western

26009

17603

8.9

13.5

Northeastern

4720

3433

17.5

20.0

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern, January- December

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

171654

1.3

149973

12.2

Eastern

67641

-5.0

79258

6.5

Central

50695

6.8

33848

18.1

Western

45396

6.9

31127

23.4

Northeastern

7922

-4.4

5740

7.0

 

 

 

 

 

 

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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