National Real Estate Development and Sales in the First Eleven Months of 2019
1. The completion of real estate investment
The total investment in real estate development in the first eleven months of 2019 was 12,126.5 billion yuan, an increase of 10.2 percent year-on-year, the growth rate fell by 0.1 percentage point over the first ten months of 2019. Of which, the investment in residential buildings was 8,923.2 billion yuan, up by 14.4 percent, and the growth rate fell by 0.2 percentage point over the first ten months of 2019.
In the first eleven months, the real estate investment in eastern region stood at 6,377.0 billion yuan, up by 8.3 percent year-on-year, and the growth rate went down by 0.1 percentage point over the first ten months in 2019, the central region stood at 2,510.2 billion yuan, went up by 9.7 percent, and the growth rate decreased by 0.3 percentage point; western region stood at 2,745.5 billion yuan, up by 15.3 percent, and the growth rate decreased by 0.4 percentage point; northeastern region reached 493.9 billion yuan, increased by 8.9 percent, and the growth rate decreased by 0.6 percentage point.
In the first eleven months, housing construction area of real estate development enterprises was 87,48.14 million square meters, up 8.7 percent year-on-year, the growth rate was 0.3 percentage point lower than in the first ten months. Of the total, the residential construction area was 6,135.66 million square meters, an increase of 10.1 percent. The new construction area of houses was 2,051.94 million square meters, an increase of 8.6 percent, and the growth rate down by 1.4 percentage points. Of which, new residential construction area was 1,514.47 million square meters, an increase of 9.3 percent. The completed area of houses was 638.46 million square meters, down by 4.5 percent, and the pace of decline was narrowed by 1.0 percentage point. Of which, the completed area of residential buildings was 452.74 million square meters, down by 4.0 percent.
In the first eleven months, the land area purchased by the real estate development enterprises totaled 217.20 million square meters, was down by 14.2 percent year-on-year, and the pace of decline narrowed 2.1 percentage points over the first ten months. The total transaction of land reached 1,196.0 billion yuan, decreased by 13.0 percent, and the pace of decline narrowed 2.2 percentage points.
2. Sales of Commercial Buildings
In the first eleven months, the floor space of commercial buildings sold stood at 1,489.05 million square meters, a year-on-year increase of 0.2 percent, and the growth rate increased by 0.1 percentage point over that in the first ten months. Of the total, the floor space of residential buildings increased by 1.6 percent, office building decreased by 11.9 percent, and buildings for business use decreased by 14.1 percent. The sales of commercial buildings amounted to 13,900.6 billion yuan, an increase of 7.3 percent, and the growth rate unchanged. Specifically, the sales of residential buildings went up by 10.7 percent, office buildings were down by 11.3 percent, buildings for commercial business decreased by 13.5 percent.
In the first eleven months, the sale of floor space of commercial buildings in eastern region amounted to 583.94 million square meters, decreased by 1.3 percent year-on-year, the pace of decline narrowed 0.8 percentage point over the first ten months. The amount of sales stood at 7,334.1 billion yuan, went up by 7.1 percent, and the growth rate went up by 0.3 percentage point. The sale of floor space of commercial buildings in central region amounted to 424.41 million square meters, decreased by 0.3 percent while increased by 0.6 percent in the first ten months. The amount of sales stood at 3,031.4 billion yuan, increased by 5.6 percent, and the growth rate went down by 1.2 percentage points. The sale of floor space of commercial buildings in western region amounted to 412.38 million square meters, increased by 3.8 percent, and the growth rate unchanged. The amount of sales stood at 2,994.3 billion yuan, increased by 10.6 percent, and the growth rate went up by 0.5 percentage point. The sale of floor space of commercial buildings in northeastern region amounted to 68.32 million square meters, decreased by 4.5 percent, and the pace of decline narrowed 0.5 percentage point. The amount of sales stood at 540.8 billion yuan, went up by 3.4 percent, the growth rate went up by 0.1 percentage point.
At the end of November, the floor space of commercial housing for sale reached 492.21 million square meters, decreased by 1.02 million square meters compared with that at the end of October. Of which, the residential buildings for sale decreased by 0.92 million square meters, office buildings increased by 0.15 million square meters, buildings for business use went up by 0.04 million square meters.
3. Sources of Funds for Real Estate Development Enterprises
In the first eleven months, the sources of funds for real estate development enterprises reached 16,053.1 billion yuan, up by 7.0 percent year-on-year, and the growth rate unchanged over the first ten months. Specifically, the domestic loans stood at 2,301.3 billion yuan, increased by 5.5 percent, foreign investment stood at 16.1 billion yuan, an increase of 57.5 percent, self-raising funds stood at 5,251.1 billion yuan, up by 3.7 percent, deposits and advance payments totaled 5,448.2 billion yuan, up by 10.0 percent, personal mortgage loans totaled 2,439.5 billion yuan, up by 13.9 percent.
4. National Real Estate Climate Index
In November, the national real estate climate index was 101.16, up by 0.02 percentage point month-on-month.
Investment in Real Estate Development for January-November
| Indicators | Absolute Value | Growth Rate Year-on-Year (%) |
| Investment in Real Estate (100 million yuan) | 121265 | 10.2 |
| Of which: Residential Buildings | 89232 | 14.4 |
| Office Buildings | 5556 | 2.5 |
| Buildings for Commercial Business | 12117 | -7.3 |
| Floor Space under Construction (10,000 sq.m) | 874814 | 8.7 |
| Of which: Residential Buildings | 613566 | 10.1 |
| Office Buildings | 36782 | 4.0 |
| Buildings for Commercial Business | 99429 | -2.1 |
| Floor Space of Houses Newly Started (10,000 sq.m) | 205194 | 8.6 |
| Of which: Residential Buildings | 151447 | 9.3 |
| Office Buildings | 6348 | 15.7 |
| Buildings for Commercial Business | 17134 | -5.0 |
| Floor Space of Buildings Completed (10,000 sq.m) | 63846 | -4.5 |
| Of which: Residential Buildings | 45274 | -4.0 |
| Office Buildings | 2357 | -9.7 |
| Buildings for Commercial Business | 7481 | -10.2 |
| Land Acquisition Area (10,000 sq.m) | 21720 | -14.2 |
| Value of Land Transactions (100 million yuan) | 11960 | -13.0 |
| Floor Space of Commercial Buildings Sold (10,000 sq.m) | 148905 | 0.2 |
| Of which: Residential Buildings | 130805 | 1.6 |
| Office Buildings | 3176 | -11.9 |
| Buildings for Business Use | 8694 | -14.1 |
| Sales of Commercial Buildings (100 million yuan) | 139006 | 7.3 |
| Of which: Residential Buildings | 121706 | 10.7 |
| Office Buildings | 4556 | -11.3 |
| Buildings for Commercial Business | 9565 | -13.5 |
| Floor Space of Commercial Housing for Sale (10,000 sq.m) | 49221 | -6.5 |
| Of which: Residential Buildings | 22281 | -12.6 |
| Office Buildings | 3695 | 3.9 |
| Buildings for Commercial Business | 13198 | -5.5 |
| Sources of Funds for Real Estate Development Enterprises (100 million yuan) | 160531 | 7.0 |
| Of which: Domestic Loans | 23013 | 5.5 |
| Foreign Investment | 161 | 57.5 |
| Self-raising Funds | 52511 | 3.7 |
| Deposits and Advance Payments | 54482 | 10.0 |
| Personal Mortgage | 24395 | 13.9 |
Real Estate Investment in Eastern, Central and Western Regions for January- November
| Regions | Investment (100 million yuan) | Growth Rate Y/Y (%) | ||
| Residential Buildings | Residential Buildings | |||
| National Total | 121265 | 89232 | 10.2 | 14.4 |
| Eastern | 63770 | 46011 | 8.3 | 10.6 |
| Central | 25102 | 19469 | 9.7 | 14.3 |
| Western | 27455 | 20028 | 15.3 | 24.5 |
| Northeastern | 4939 | 3724 | 8.9 | 13.1 |
Sales of Commercial Buildings in Eastern, Central and Western Regions for January- November
| 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 (%) | |
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| National Total | 148905 | 0.2 | 139006 | 7.3 |
| Eastern | 58394 | -1.3 | 73341 | 7.1 |
| Central | 42441 | -0.3 | 30314 | 5.6 |
| Western | 41238 | 3.8 | 29943 | 10.6 |
| Northeastern | 6832 | -4.5 | 5408 | 3.4 |
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.