National Real Estate Development and Sales in the First Two Months of 2020
National Bureau of Statistics of China2020-03-17 10:00




1. The completion of real estate investment

 

From January to February, the national real estate development investment was 1,011.5 billion yuan, down 16.3 percent year on year. Among them, the residential investment was 731.8 billion yuan, down 16.0 percent.

 

 

From January to February, the real estate development investment in the eastern region was 630.8 billion yuan, down 12.5 percent year-on-year; the investment in the central region was 173.1 billion yuan, down 25.9 percent; the investment in the western region was 195.3 billion yuan, down 18.6 percent; the investment in the northeast region was 12.3 billion yuan, down 16.1 percent.

 

From January to February, the housing construction area of real estate development enterprises was 6,942.41 million square meters, up 2.9 percent year on year. Among them, the residential construction area was 4,876.54 million square meters, an increase of 4.6 percent. The newly constructed area of housing was 103.7 million square meters, down 44.9 percent. Among them, 75.59 million square meters of newly constructed residential area, down 44.4 percent. The completed area of the house was 96.36 million square meters, down 22.9 percent. Among them, the completed residential area was 67.61 million square meters, down 24.3 percent.

 

From January to February,, the land area purchased by the real estate development enterprises was 10.92 million square meters, down 29.3 percent over the previous year; the land transaction price was 44 billion yuan, down 36.2 percent.

 

2. Sales of Commercial Buildings

 

From January to February, the sales area of commercial housing was 84.75 million square meters, down 39.9 percent year on year. Among them, the sales area of residential buildings decreased by 39.2 percent, that of office buildings decreased by 48.4 percent, and that of commercial business buildings decreased by 46.0 percent. The sales volume of commercial housing was 820.3 billion yuan, down 35.9 percent. Among them, the sales of residential buildings decreased by 34.7 percent, the sales of office buildings decreased by 40.6 percent, and the sales of commercial buildings decreased by 46.0 percent.

 

 

From January to February, the sales area of commercial housing in the eastern region was 35.37 million square meters, down 34.9 percent year on year; the sales volume was 479.2 billion yuan, down 30.0 percent. The sales area of commercial housing in the central region was 21.39 million square meters, down 45.2 percent; the sales volume was 142.5 billion yuan, down 46.4 percent. The sales area of commercial housing in the western region was 25.65 million square meters, down 41.3 percent; the sales volume was 177.8 billion yuan, down 40.6 percent. The sales area of commercial housing in Northeast China was 2.34 million square meters, down 41.0 percent; the sales volume was 20.8 billion yuan, down 32.1 percent.

 

By the end of February, the area for sale of commercial housing was 530.04 million square meters, an increase of 31.84 million square meters over the end of 2019. Among them, the area for sale of residential buildings increased by 32.24 million square meters, the area for sale of office buildings increased by 310 thousand square meters, and the area for sale of commercial and business buildings decreased by 2.82 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

From January to February, the funds in place of real estate development enterprises reached 2,021 billion yuan, down 17.5 percent year on year. Among them, domestic loan was 454.7 billion yuan, down 8.6 percent; foreign investment was 1.2 billion yuan, down 77.2 percent; self-raised fund was 616.1 billion yuan, down 15.4 percent; deposit and advance payment were 560.3 billion yuan, down 23.9 percent; personal mortgage loan was 303 billion yuan, down 12.4 percent.

 

 

4. National Real Estate Climate Index

 

In February, the real estate development climate index (referred to as "national housing climate index") was 97.39.

 

 

Investment in Real Estate Development for January-February

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

     

 Investment in Real Estate (100 million yuan)

10115

-16.3

  Of which: Residential Buildings

7318

-16.0

      Office Buildings

550

-17.8

      Buildings for Commercial Business

979

-25.6

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

694241

2.9

  Of which: Residential Buildings

487654

4.6

      Office Buildings

29642

-3.2

      Buildings for Commercial Business

74457

-10.2

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

10370

-44.9

  Of which: Residential Buildings

7559

-44.4

      Office Buildings

304

-58.0

      Buildings for Commercial Business

875

-50.7

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

9636

-22.9

  Of which: Residential Buildings

6761

-24.3

      Office Buildings

397

-8.1

      Buildings for Commercial Business

1037

-29.8

 Land Acquisition Area (10,000 sq.m)

1092

-29.3

 Value of Land Transactions (100 million yuan)

440

-36.2

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

8475

-39.9

  Of which: Residential Buildings

7489

-39.2

      Office Buildings

166

-48.4

      Buildings for Business Use

453

-46.0

 Sales of Commercial Buildings (100 million yuan)

8203

-35.9

  Of which: Residential Buildings

7198

-34.7

      Office Buildings

300

-40.6

      Buildings for Commercial Business

517

-46.0

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

53004

1.4

  Of which: Residential Buildings

25697

1.9

      Office Buildings

3831

3.6

      Buildings for Commercial Business

13000

-3.0

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

20210

-17.5

  Of which: Domestic Loans

4547

-8.6

      Foreign Investment

12

-77.2

      Self-raising Funds

6161

-15.4

      Deposits and Advance Payments

5603

-23.9

      Personal Mortgage

3030

-12.4

     

 

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

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

         

National Total

10115

7318

-16.3

-16.0

Eastern

6308

4438

-12.5

-13.1

Central

1731

1367

-25.9

-23.0

Western

1953

1415

-18.6

-17.6

Northeastern

123

98

-16.1

-13.8

         

 

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

 

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

8475

-39.9

8203

-35.9

Eastern

3537

-34.9

4792

-30.0

Central

2139

-45.2

1425

-46.4

Western

2565

-41.3

1778

-40.6

Northeastern

234

-41.0

208

-32.1

         

 

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 hand 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.

 

Annex
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