National Real Estate Development and Sales from January to February 2021
1. The completion of real estate investment
From January to February, the national investment in real estate development was 1,398.6 billion yuan, a year-on-year increase of 38.3 percent; it was 15.7 percent higher than that from January to February in 2019, with an average growth of 7.6 percent in two years. Among them, the residential investment was 1,038.7 billion yuan, an increase of 41.9 percent.
From January to February, the investment in real estate development in the eastern region was 835.3 billion yuan, up 32.4 percent year on year; the investment in the central region was 264 billion yuan, up 52.5 percent; the investment in the western region was 283.4 billion yuan, up 45.1 percent; the investment in the northeast region was 15.8 billion yuan, up 28.6 percent.
From January to February, the construction area of real estate development enterprises was 7,706.29 million square meters, with a year-on-year increase of 11.0 percent. Among them, the residential construction area was 5,425.03 million square meters, an increase of 11.2 percent. The newly started housing area was 170.37 million square meters, an increase of 64.3 percent. Among them, the newly started residential area was 127.36 million square meters, an increase of 68.5 percent. The completed area of housing was 135.25 million square meters, an increase of 40.4 percent. Among them, the completed residential area was 98.62 million square meters, an increase of 45.9 percent.
From January to February, the land purchase area of real estate development enterprises was 14.53 million square meters, an increase of 33.0 percent year-on-year; the transaction price of land was 50.3 billion yuan, up 14.3 percent.
2. Sales of Commercial Buildings
From January to February, the sales area of commercial housing was 173.63 million square meters, with a year-on-year growth of 1.05 times; it was 23.1 percent higher than that of January to February in 2019, with an average growth of 11.0 percent in two years. Among them, the sales area of residential buildings increased by 1.08 times, the sales area of office buildings increased by 56.4 percent, and the sales area of commercial buildings increased by 66.4 percent. The sales volume of commercial housing was 1,915.1 billion yuan, an increase of 1.33 times; it was 49.6 percent higher than that from January to February in 2019, with an average increase of 22.3 percent in two years. Among them, the sales of residential buildings increased by 1.44 times, the sales of office buildings increased by 33.4 percent, and the sales of commercial buildings increased by 60.7 percent.
From January to February, the sales area of commercial housing in the eastern region was 75.65 million square meters, a year-on-year increase of 1.14 times; the sales volume was 1,189.1 billion yuan, a year-on-year increase of 1.48 times. The sales area of commercial housing in the central region was 43.69 million square meters, an increase of 1.04 times; the sales volume was 328 billion yuan, an increase of 1.30 times. The sales area of commercial housing in the western region was 50.04 million square meters, an increase of 95.1 percent; the sales volume was 362 billion yuan, an increase of 1.04 times. The sales area of commercial housing in northeast China was 4.25 million square meters, an increase of 82.0 percent; the sales volume was 35.9 billion yuan, an increase of 72.7 percent.
At the end of February, the area of commercial housing for sale was 524.25 million square meters, an increase of 25.75 million square meters over the end of 2020. Among them, the residential area for sale increased by 23.14 million square meters, the office area for sale decreased by 240,000 square meters, and the commercial area for sale decreased by 2.69 million square meters.
3. Sources of Funds for Real Estate Development Enterprises
From January to February, real estate development enterprises invested 3,056 billion yuan, a year-on-year increase of 51.2 percent; compared with January to February in 2019, it increased by 24.7 percent, with an average increase of 11.7 percent in two years. Among them, domestic loans were 520.1 billion yuan, up 14.4 percent; foreign investment was 1 billion yuan, down 14.0 percent; self-raised funds were 826.8 billion yuan, up 34.2 percent; deposits and advances were 1,100.2 billion yuan, up 96.3 percent; personal mortgage loans were 496.1 billion yuan, up 63.7 percent.
4. National Real Estate Climate Index
In February, the real estate development climate index (referred to as "national housing climate index") was 101.41.
Investment in Real Estate Development for January-February
| Indicators | Absolute Value | Growth Rate Year-on-Year (%) |
| Investment in Real Estate (100 million yuan) | 13986 | 38.3 |
| Of which: Residential Buildings | 10387 | 41.9 |
| Office Buildings | 675 | 22.8 |
| Buildings for Commercial Business | 1251 | 27.8 |
| Floor Space under Construction (10,000 sq.m) | 770629 | 11.0 |
| Of which: Residential Buildings | 542503 | 11.2 |
| Office Buildings | 31802 | 7.3 |
| Buildings for Commercial Business | 76346 | 2.5 |
| Floor Space of Houses Newly Started (10,000 sq.m) | 17037 | 64.3 |
| Of which: Residential Buildings | 12736 | 68.5 |
| Office Buildings | 452 | 48.8 |
| Buildings for Commercial Business | 1266 | 44.6 |
| Floor Space of Buildings Completed (10,000 sq.m) | 13525 | 40.4 |
| Of which: Residential Buildings | 9862 | 45.9 |
| Office Buildings | 439 | 10.5 |
| Buildings for Commercial Business | 1214 | 17.1 |
| Land Acquisition Area (10,000 sq.m) | 1453 | 33.0 |
| Value of Land Transactions (100 million yuan) | 503 | 14.3 |
| Floor Space of Commercial Buildings Sold (10,000 sq.m) | 17363 | 104.9 |
| Of which: Residential Buildings | 15609 | 108.4 |
| Office Buildings | 259 | 56.4 |
| Buildings for Business Use | 754 | 66.4 |
| Sales of Commercial Buildings (100 million yuan) | 19151 | 133.4 |
| Of which: Residential Buildings | 17526 | 143.5 |
| Office Buildings | 401 | 33.4 |
| Buildings for Commercial Business | 831 | 60.7 |
| Floor Space of Commercial Housing for Sale (10,000 sq.m) | 52425 | -1.1 |
| Of which: Residential Buildings | 24693 | -3.9 |
| Office Buildings | 3772 | -1.5 |
| Buildings for Commercial Business | 12665 | -2.6 |
| Sources of Funds for Real Estate Development Enterprises (100 million yuan) | 30560 | 51.2 |
| Of which: Domestic Loans | 5201 | 14.4 |
| Foreign Investment | 10 | -14.0 |
| Self-raising Funds | 8268 | 34.2 |
| Deposits and Advance Payments | 11002 | 96.3 |
| Personal Mortgage | 4961 | 63.7 |
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 | 13986 | 10387 | 38.3 | 41.9 |
| Eastern | 8353 | 6057 | 32.4 | 36.5 |
| Central | 2640 | 2107 | 52.5 | 54.1 |
| Western | 2834 | 2099 | 45.1 | 48.4 |
| Northeastern | 158 | 125 | 28.6 | 26.9 |
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 | 17363 | 104.9 | 19151 | 133.4 |
| Eastern | 7565 | 113.9 | 11891 | 148.1 |
| Central | 4369 | 104.3 | 3280 | 130.2 |
| Western | 5004 | 95.1 | 3620 | 103.6 |
| Northeastern | 425 | 82.0 | 359 | 72.7 |
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.
Saleable area of commercial housing: refers to the construction area of commercial housing that has been completed for sale or rental at the end of the reporting period, including the building area completed in previous years and completed in the current period, but does not include the completed demolition and reconstruction, unified construction, public supporting buildings, self-use and revolving houses of real estate companies that cannot be sold or leased area of rental housing.
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 finalized 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
A comprehensive survey was conducted monthly (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.
6. The average growth rate of two years refers to the growth rate calculated by geometric average method based on the corresponding number of the same period in 2019.