National Real Estate Development and Sales in the First Seven Months of 2019
National Bureau of Statistics of China2019-08-16 13:45




1. The completion of real estate investment

 

The total investment in real estate development in the first seven months of 2019 was 7,284.3 billion yuan, an increase of 10.6 percent year-on-year, the growth rate decreased by 0.3 percentage point over the first six months of 2019. Of which, the investment in residential buildings was 5,346.6 billion yuan, up by 15.1 percent, and the growth rate decreased by 0.7 percentage point. Accounted for 73.4 percent of real estate development investment.

 

 

In the first seven months, the real estate investment in eastern region stood at 3,904.2 billion yuan, up by 9.2 percent year-on-year, and the growth rate went down by 0.7 percentage point over the first six months in 2019; the central region stood at 1,524.8 billion yuan, went up by 9.5 percent, and the growth rate increased by 0.6 percentage point ; western region stood at 1,570.8 billion yuan, up by 15.1 percent, and the growth rate decreased by 0.4 percentage point; northeastern region reached 284.5 billion yuan, increased by 11.0 percent, and the growth rate decreased by 1.7 percentage points.

 

In the first seven month, housing construction area of real estate development enterprises was 7,942.07 million square meters, up 9.0 percent year-on-year, the growth rate was 0.2 percentage point higher than in the first six months. Of the total, the residential construction area was 5,541.11 million square meters, an increase of 10.4 percent. The new construction area of houses was 1,257.16 million square meters, an increase of 9.5 percent, and the growth rate down by 0.6 percentage points. Of which, new residential construction area was 928.26 million square meters, an increase of 9.6 percent. The completed area of houses was 373.31 million square meters, down by 11.3 percent, and the pace of decline was narrowed by 1.4 percentage points. Of which, the completed area of residential buildings was 263.74 million square meters, down by 10.5 percent.

 

In the first seven months, the land area purchased by the real estate development enterprises totaled 97.61 million square meters, was down by 29.4 percent year-on-year, and the pace of decline expanded 1.9 percentage points over the first six months. The total transaction of land reached 479.5 billion yuan, decreased by 27.6 percent, while the pace of decline remained unchanged.

 

2. Sales of Commercial Buildings

 

In the first seven months, the floor space of commercial buildings sold stood at 887.83 million square meters, a year-on-year decrease of 1.3 percent, while the pace of decline narrowed 0.5 percentage point over the first six months. Of the total, the floor space of residential buildings decreased by 0.4 percent, office building decreased by 10.8 percent, and buildings for business use decreased by 13.1 percent. The sales of commercial buildings amounted to 8,316.2 billion yuan, an increase of 6.2 percent, and the growth rate went up by 0.6 percentage point. Specifically, the sales of residential buildings went up by 9.2 percent, office buildings was down by 13.3 percent, buildings for commercial business decreased by 10.9 percent.

 

 

In the first seven months, the sale of floor space of commercial buildings in eastern region amounted to 353.17 million square meters, decreased by 4.2 percent year-on-year, the pace of decline narrowed 0.4 percentage point over the first six months. The amount of sales stood at 4,442.9 billion yuan, went up by 5.2 percent, and the growth rate went up by 0.5 percentage point. The sale of floor space of commercial buildings in central region amounted to 251.06 million square meters, decreased by 0.1 percent, the pace of decline narrowed 0.4 percent; The amount of sales stood at 1,796.6 billion yuan, increased by 6.7 percent, and the growth rate went up by 0.6 percentage point. The sale of floor space of commercial buildings in western region amounted to 246.13 million square meters, increased by 2.8 percent, and the growth rate increased by 0.5 percentage point from that in the first six months; the amount of sales stood at 1,776.0 billion yuan, went up by 9.3 percent, the growth rate went up by 0.9 percentage point. The sale of floor space of commercial buildings in northeastern region amounted to 37.47 million square meters, down by 7.8 percent, and the pace of decline narrowed 0.5 percentage point. The amount of sales stood at 300.7 billion yuan, went up by 0.5 percent, while the growth rate went down by 0.4 percentage points.

 

At the end of July, the floor space of commercial housing for sale reached 498.76 million square meters, decreased by 2.86 million square meters compared with that at the end of June. Of which, the residential buildings for sale decreased by 3.05 million square meters, office buildings increased by 0.23 million square meters, buildings for business use went down by 0.21 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first seven months, the sources of funds for real estate development enterprises reached 9,980.0 billion yuan, up by 7.0 percent year-on-year, and the growth rate decreased by 0.2 percentage point over the first six months. Specifically, the domestic loans stood at 1,537.7 billion yuan, increased by 9.5 percent, foreign investment stood at 6.1 billion yuan, an increase of 83.6 percent, self-raising funds stood at 3,103.2 billion yuan, up by 2.8 percent, deposits and advance payments totaled 3,398.0 billion yuan, increased by 9.6 percent, personal mortgage loans totaled 1,519.8 billion yuan, up by 11.3 percent.

 

      

4. National Real Estate Climate Index

 

In July, the national real estate climate index was 100.90, down by 0.01 percentage point month-on-month.

 

 

Investment in Real Estate Development for January-July

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

72843

10.6

  Of which: Residential Buildings

53466

15.1

      Office Buildings

3333

-0.2

      Buildings for Commercial Business

7318

-9.0

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

794207

9.0

  Of which: Residential Buildings

554111

10.4

      Office Buildings

34416

4.3

      Buildings for Commercial Business

92864

-1.5

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

125716

9.5

  Of which: Residential Buildings

92826

9.6

      Office Buildings

3930

21.6

      Buildings for Commercial Business

10585

-3.5

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

37331

-11.3

  Of which: Residential Buildings

26374

-10.5

      Office Buildings

1407

-15.7

      Buildings for Commercial Business

4458

-17.3

 Land Acquisition Area (10,000 sq.m)

9761

-29.4

 Value of Land Transactions (100 million yuan)

4795

-27.6

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

88783

-1.3

  Of which: Residential Buildings

77756

-0.4

      Office Buildings

2016

-10.8

      Buildings for Business Use

5306

-13.1

 Sales of Commercial Buildings (100 million yuan)

83162

6.2

  Of which: Residential Buildings

72431

9.2

      Office Buildings

2835

-13.3

      Buildings for Commercial Business

5970

-10.9

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

49876

-8.4

  Of which: Residential Buildings

22930

-14.7

      Office Buildings

3650

2.6

      Buildings for Commercial Business

13328

-6.8

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

99800

7.0

  Of which: Domestic Loans

15377

9.5

      Foreign Investment

61

83.6

      Self-raising Funds

31032

2.8

      Deposits and Advance Payments

33980

9.6

      Personal Mortgage

15198

11.3

 

 

 

 

Real Estate Investment in Eastern, Central and Western Regions for January- July

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

 

 

 

 

 

National Total

72843

53466

10.6

15.1

Eastern

39042

28257

9.2

12.2

Central

15248

11744

9.5

14.5

Western

15708

11320

15.1

23.6

Northeastern

2845

2146

11.0

15.8

 

 

 

 

 

 

Sales of Commercial Buildings in Eastern, Central and Western Regions for January- July

 

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

88783

-1.3

83162

6.2

Eastern

35317

-4.2

44429

5.2

Central

25106

-0.1

17966

6.7

Western

24613

2.8

17760

9.3

Northeastern

3747

-7.8

3007

0.5

 

 

 

 

 

 

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 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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