National Real Estate Development and Sales from January to December 2020
National Bureau of Statistics of China2021-01-19 10:00




1. The completion of real estate investment

 

From January to December 2020, China's investment in real estate development was 14,144.3 billion yuan, an increase of 7.0 percent over the previous year. The growth rate was 0.2 percentage point higher than that from January to November, and 2.9 percentage points lower than that of the previous year. Among them, the residential investment was 10,444.6 billion yuan, an increase of 7.6 percent, 0.2 percentage point higher than that from January to November, and 6.3 percentage points lower than that of the previous year.

 

 

In 2020, the investment in real estate development in the eastern region reached 7,456.4 billion yuan, an increase of 7.6 percent over the previous year, and the growth rate was 0.2 percentage point higher than that from January to November; the investment in the central region will be 2,880.2 billion yuan, an increase of 4.4 percent, and the growth rate was 0.8 percentage point higher; the investment in the western region was 3,265.4 billion yuan, an increase of 8.2 percent, and the growth rate decreased by 0.1 percentage point; the investment in the northeast region was 542.3 billion yuan, an increase of 6.2 percent, and the growth rate unchanged.

 

In 2020, the construction area of real estate development enterprises was 9,267.59 million square meters, an increase of 3.7 percent over the previous year. The growth rate was 0.5 percentage point higher than that from January to November, and 5.0 percentage points lower than that of the previous year. Among them, the residential construction area was 6,555.58 million square meters, an increase of 4.4 percent. The newly started housing area was 2,244.33 million square meters, down by 1.2 percent, with the decrease rage of 0.8 percentage point lower than that from January to November, which was an increase of 8.5 percent in the previous year. Among them, the newly started residential area was 1,643.29 million square meters, a decrease of 1.9 percent. The completed housing area was 912.18 million square meters, a decrease of 4.9 percent, 2.4 percentage points lower than that from January to November, which was an increase of 2.6 percent in the previous year. Among them, the completed residential area was 659.1 million square meters, a decrease of 3.1 percent.

 

In 2020, the land purchase area of real estate development enterprises was 255.36 million square meters, decreased by 1.1 percent over the previous year, and the decrease rate was 4.1 percentage points lower than that from January to November and 10.3 percentage points lower than that of the previous year; the land transaction price was 1,726.9 billion yuan, increased by 17.4 percent, 1.3 percentage points higher than that from January to November, which was a decrease of 8.7 percent in the previous year.

 

2. Sales of Commercial Buildings

 

In 2020, the sales area of commercial housing was 1,760.86 million square meters, an increase of 2.6 percent over the previous year, an increase of 1.3 percentage points over the period from January to November, which was a decrease of 0.1 percent in last year. Among them, the sales area of residential buildings increased by 3.2 percent, that of office buildings decreased by 10.4 percent, and that of commercial buildings decreased by 8.7 percent. The sales of commercial housing reached 17,361.3 billion yuan, an increase of 8.7 percent, 1.5 percentage points higher than that from January to November, and 2.2 percentage points higher than that of the previous year. Among them, sales of residential buildings increased by 10.8 percent, sales of office buildings decreased by 5.3 percent, and sales of commercial buildings decreased by 11.2 percent.

 

 

In 2020, the sales area of commercial housing in the eastern region was 713.11 million square meters, an increase of 7.1 percent over the previous year, and the growth rate was 1.8 percentage points higher than that from January to November; the sales volume was 9,569 billion yuan, an increase of 14.1 percent, and the growth rate was 1.5 percentage points higher. The sales area of commercial housing in the central region was 490.78 million square meters, a decrease of 1.9 percent and a decrease rate of 1.4 percentage points lower; the sales volume was 3,585.4 billion yuan, an increase of 1.0 percent, which was a decrease of 1.4 percent from January to November. The sales area of commercial housing in the western region was 486.28 million square meters, an increase of 2.6 percent and a growth rate of 0.7 percentage point; the sales volume was 3,625.7 billion yuan, an increase of 5.1 percent and a growth rate of 0.7 percentage point. The sales area of commercial housing in northeast China was 70.69 million square meters, a decrease of 5.8 percent and a decrease rate of 1.7 percentage points lower; the sales volume was 581.2 billion yuan, a decrease of 1.5 percent and a decrease rate of 1.7 percent narrower.

                         

By the end of 2020, the area of commercial housing for sale was 498.5 million square meters, an increase of 5.63 million square meters over the end of November, and an increase of 290,000 square meters over the end of last year. Among them, the residential area for sale increased by 3.12 million square meters, the office area increased by 330,000 square meters, and the commercial area decreased by 100,000 square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In 2020, the real estate development enterprises put in 19,311.5 billion yuan of funds, an increase of 8.1 percent over the previous year. The growth rate was 1.5 percentage points higher than that from January to November, and 0.5 percentage point higher than that of the previous year. Among them, domestic loans were 2,667.6 billion yuan, an increase of 5.7 percent; foreign investment was 19.2 billion yuan, an increase of 9.3 percent; self-raised funds were 6,337.7 billion yuan, an increase of 9.0 percent; deposits and advances were 6,654.7 billion yuan, an increase of 8.5 percent; personal mortgage loans were 2,997.6 billion yuan, an increase of 9.9 percent.

 

 

4. National Real Estate Climate Index

 

In December, the real estate development prosperity index (hereinafter referred to as "national real estate climate index") was 100.76, 0.21 points higher than that in November.

 

 

Investment in Real Estate Development for January-December

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

     

 Investment in Real Estate (100 million yuan)

141443

7.0

  Of which: Residential Buildings

104446

7.6

      Office Buildings

6494

5.4

      Buildings for Commercial Business

13076

-1.1

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

926759

3.7

  Of which: Residential Buildings

655558

4.4

      Office Buildings

37084

-0.5

      Buildings for Commercial Business

93198

-7.2

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

224433

-1.2

  Of which: Residential Buildings

164329

-1.9

      Office Buildings

6604

-6.8

      Buildings for Commercial Business

18012

-4.9

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

91218

-4.9

  Of which: Residential Buildings

65910

-3.1

      Office Buildings

3042

-22.5

      Buildings for Commercial Business

8621

-20.3

 Land Acquisition Area (10,000 sq.m)

25536

-1.1

 Value of Land Transactions (100 million yuan)

17269

17.4

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

176086

2.6

  Of which: Residential Buildings

154878

3.2

      Office Buildings

3334

-10.4

      Buildings for Business Use

9288

-8.7

 Sales of Commercial Buildings (100 million yuan)

173613

8.7

  Of which: Residential Buildings

154567

10.8

      Office Buildings

5047

-5.3

      Buildings for Commercial Business

9889

-11.2

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

49850

0.1

  Of which: Residential Buildings

22379

-0.4

      Office Buildings

3796

-0.1

      Buildings for Commercial Business

12934

-2.6

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

193115

8.1

  Of which: Domestic Loans

26676

5.7

      Foreign Investment

192

9.3

      Self-raising Funds

63377

9.0

      Deposits and Advance Payments

66547

8.5

      Personal Mortgage

29976

9.9

     

 

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

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

         

National Total

141443

104446

7.0

7.6

Eastern

74564

53598

7.6

7.5

Central

28802

22661

4.4

5.7

Western

32654

24133

8.2

10.0

Northeastern

5423

4053

6.2

5.4

         

                                                   

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

 

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

176086

2.6

173613

8.7

Eastern

71311

7.1

95690

14.1

Central

49078

-1.9

35854

1.0

Western

48628

2.6

36257

5.1

Northeastern

7069

-5.8

5812

-1.5

         

 

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 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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