National Real Estate Development and Sales in the First Three Months of 2020
1. The completion of real estate investment
From January to March, the national real estate development investment was 2,196.3 billion yuan, down 7.7 percent year on year, 8.6 percentage points lower than that from January to February. Among them, the investment in housing was 1,601.5 billion yuan, down 7.2 percent, and the pace of decline narrowed 8.8 percentage points.
From January to March, the investment in real estate development in the eastern region was 1,271.4 billion yuan, down 6.1 percent year-on-year, 6.4 percentage points lower than that from January to February; the investment in the central region was 391.7 billion yuan, down 18.7 percent, 7.2 percentage points lower; the investment in the western region was 486.1 billion yuan, down 0.8 percent, 17.8 percentage points lower; the investment in the northeast region was 47 billion yuan, down 14.0 percent, 2.1 percentage points lower.
From January to March, the housing construction area of real estate development enterprises was 7,178.86 million square meters, up 2.6 percent year-on-year, 0.3 percentage points lower than that from January to February. Among them, the residential construction area was 5,046.16 million square meters, an increase of 4.1 percent. The newly started construction area of housing was 282.03 million square meters, down 27.2 percent, with a decrease of 17.7 percentage points. Among them, the newly started residential area was 207.99 million square meters, down 26.9 percent. The completed area of the house was 155.57 million square meters, down 15.8 percent, with a decrease of 7.1 percentage points. Among them, the completed residential area was 109.28 million square meters, down 16.2 percent.
From January to March, the land acquisition area of real estate development enterprises was 19.69 million square meters, down 22.6 percent year-on-year, 6.7 percentage points lower than that from January to February; the land transaction price was 97.7 billion yuan, down 18.1 percent, with a decrease of 18.1 percentage points.
2. Sales of Commercial Buildings
From January to March, the sales area of commercial housing was 219.78 million square meters, down 26.3 percent year on year, 13.6 percentage points lower than that from January to February. Among them, the sales area of residential buildings decreased by 25.9 percent, that of office buildings decreased by 36.2 percent, and that of commercial buildings decreased by 35.1 percent. The sales volume of commercial housing was 2,036.5 billion yuan, down 24.7 percent, 11.2 percentage points lower than that from January to February. Among them, the sales of residential buildings decreased by 22.8 percent, the sales of office buildings decreased by 36.8 percent, and the sales of commercial buildings decreased by 39.8 percent.
From January to March, the sales area of commercial housing in the eastern region was 88.03 million square meters, down 24.3 percent year-on-year, 10.6 percentage points lower than that from January to February; the sales volume was 1,130 billion yuan, down 20.9 percent, 9.1 percentage points lower. The sales area of commercial housing in the central region was 57.06 million square meters, down 32.8 percent, with a decrease of 12.4 percentage points; the sales volume was 376.9 billion yuan, down 36.1 percent, with a decrease of 10.3 percentage points. The sales area of commercial housing in the western region was 68.24 million square meters, down 21.9 percent, with a decrease of 19.4 percentage points; the sales volume was 474.6 billion yuan, down 22.1 percent, with a decrease of 18.5 percentage points. The sales area of commercial housing in Northeast China was 6.45 million square meters, down 32.8 percent, with a decrease of 8.2 percentage points; the sales volume was 55 billion yuan, down 28.4 percent, and the pace of decline narrowed 3.7 percentage points.
At the end of March, the area for sale of commercial housing was 527.27 million square meters, 2.78 million square meters less than that at the end of February. Among them, the area for sale of residential buildings decreased by 4.4 million square meters, the area for sale of office buildings increased by 210 thousand square meters, and the area for sale of commercial and business buildings increased by 1.68 million square meters.
3. Sources of Funds for Real Estate Development Enterprises
From January to March, the paid in capital of real estate development enterprises was 3,356.6 billion yuan, down 13.8 percent year on year, 3.7 percentage points lower than that from January to February. Among them, the domestic loan was 671.6 billion yuan, down 5.9 percent; the utilization of foreign capital was 1.9 billion yuan, down 42.5 percent; self-raised fund was 1,075.5 billion yuan, down 8.8 percent; deposit and advance payment were 954.2 billion yuan, down 22.4 percent; personal mortgage loan was 522.8 billion yuan, down 7.4 percent.
4. National Real Estate Climate Index
In March, the real estate development climate index (referred to as "national housing climate index") was 98.18, 0.78 point higher than that in February.
Investment in Real Estate Development for January-March
| Indicators | Absolute Value | Growth Rate Year-on-Year (%) |
| Investment in Real Estate (100 million yuan) | 21963 | -7.7 |
| Of which: Residential Buildings | 16015 | -7.2 |
| Office Buildings | 1036 | -10.8 |
| Buildings for Commercial Business | 2106 | -14.8 |
| Floor Space under Construction (10,000 sq.m) | 717886 | 2.6 |
| Of which: Residential Buildings | 504616 | 4.1 |
| Office Buildings | 30482 | -2.5 |
| Buildings for Commercial Business | 76573 | -9.9 |
| Floor Space of Houses Newly Started (10,000 sq.m) | 28203 | -27.2 |
| Of which: Residential Buildings | 20799 | -26.9 |
| Office Buildings | 807 | -38.0 |
| Buildings for Commercial Business | 2361 | -29.7 |
| Floor Space of Buildings Completed (10,000 sq.m) | 15557 | -15.8 |
| Of which: Residential Buildings | 10928 | -16.2 |
| Office Buildings | 613 | -5.8 |
| Buildings for Commercial Business | 1802 | -20.6 |
| Land Acquisition Area (10,000 sq.m) | 1969 | -22.6 |
| Value of Land Transactions (100 million yuan) | 977 | -18.1 |
| Floor Space of Commercial Buildings Sold (10,000 sq.m) | 21978 | -26.3 |
| Of which: Residential Buildings | 19235 | -25.9 |
| Office Buildings | 428 | -36.2 |
| Buildings for Business Use | 1221 | -35.1 |
| Sales of Commercial Buildings (100 million yuan) | 20365 | -24.7 |
| Of which: Residential Buildings | 17934 | -22.8 |
| Office Buildings | 607 | -36.8 |
| Buildings for Commercial Business | 1294 | -39.8 |
| Floor Space of Commercial Housing for Sale (10,000 sq.m) | 52727 | 2.1 |
| Of which: Residential Buildings | 25257 | 2.3 |
| Office Buildings | 3852 | 5.5 |
| Buildings for Commercial Business | 13169 | -1.9 |
| Sources of Funds for Real Estate Development Enterprises (100 million yuan) | 33566 | -13.8 |
| Of which: Domestic Loans | 6716 | -5.9 |
| Foreign Investment | 19 | -42.5 |
| Self-raising Funds | 10755 | -8.8 |
| Deposits and Advance Payments | 9542 | -22.4 |
| Personal Mortgage | 5228 | -7.4 |
Real Estate Investment in Eastern, Central and Western Regions for January- March
| Regions | Investment (100 million yuan) | Growth Rate Y/Y (%) | ||
| Residential Buildings | Residential Buildings | |||
| National Total | 21963 | 16015 | -7.7 | -7.2 |
| Eastern | 12714 | 9037 | -6.1 | -6.5 |
| Central | 3917 | 3055 | -18.7 | -16.9 |
| Western | 4861 | 3560 | -0.8 | 1.8 |
| Northeastern | 470 | 364 | -14.0 | -12.1 |
Sales of Commercial Buildings in Eastern, Central and Western Regions for January- March
| 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 | 21978 | -26.3 | 20365 | -24.7 |
| Eastern | 8803 | -24.3 | 11300 | -20.9 |
| Central | 5706 | -32.8 | 3769 | -36.1 |
| Western | 6824 | -21.9 | 4746 | -22.1 |
| Northeastern | 645 | -32.8 | 550 | -28.4 |
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 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.