National Real Estate Development and Sales in the First Six Months of 2021
1. The completion of real estate investment
From January to June, the national real estate development investment was 7,217.9 billion yuan, up 15.0 percent year on year; It was 17.2 percent higher than that from January to June in 2019, with an average growth of 8.2 percent in two years. Among them, the residential investment was 5,424.4 billion yuan, an increase of 17.0 percent.
From January to June, the real estate development investment in the eastern region was 3,854.4 billion yuan, up 13.6 percent year on year; the investment in the central region was 1,505.3 billion yuan, an increase of 22.7 percent; the investment in the western region was 1,598.1 billion yuan, an increase of 12.2 percent; the investment in northeast China was 260.1 billion yuan, an increase of 11.8 percent.
From January to June, the construction area of real estate development enterprises was 8,732.51 million square meters, a year-on-year increase of 10.2 percent. Among them, the residential construction area was 6,174.8 million square meters, an increase of 10.5 percent. The newly started area of housing was 1,012.88 million square meters, an increase of 3.8 percent. Among them, the newly started residential area was 755.15 million square meters, an increase of 5.5 percent. The completed area of the house was 364.81 million square meters, an increase of 25.7 percent. Among them, the completed residential area was 262.54 million square meters, an increase of 27.0 percent.
From January to June, the land purchase area of real estate development enterprises was 70.21 million square meters, a year-on-year decrease of 11.8 percent; the land transaction price was 380.8 billion yuan, down 5.7 percent.
2. Sales of Commercial Buildings
From January to June, the sales area of commercial housing was 886.35 million square meters, a year-on-year increase of 27.7 percent; it was 17.0 percent higher than that from January to June in 2019, with an average growth of 8.1 percent in two years. Among them, the sales area of residential buildings increased by 29.4 percent, office buildings increased by 10.0 percent and commercial buildings increased by 5.7 percent. The sales of commercial housing reached 9,293.1 billion yuan, up 38.9 percent; it was 31.4 percent higher than that from January to June in 2019, with an average growth of 14.7 percent in two years. Among them, the sales of residential buildings increased by 41.9 percent, office buildings increased by 10.7 percent and commercial buildings increased by 8.8 percent.
From January to June, the sales area of commercial housing in the eastern region was 374.33 million square meters, a year-on-year increase of 31.3 percent; sales reached 5,416.9 billion yuan, up 45.9 percent. The sales area of commercial housing in central China was 246.09 million square meters, an increase of 33.4 percent; sales reached 1,858.2 billion yuan, up 41.3 percent. The sales area of commercial housing in the western region was 236.21 million square meters, an increase of 18.6 percent; sales reached 1,768.4 billion yuan, up 22.1 percent. The sales area of commercial housing in northeast China was 29.72 million square meters, an increase of 17.3 percent; sales reached 249.7 billion yuan, up 16.5 percent.
At the end of June, the area of commercial housing for sale was 510.79 million square meters, an increase of 530,000 square meters over the end of May. Among them, the area for sale of residential buildings decreased by 1.8 million square meters, the area for sale of office buildings increased by 660,000 square meters, and the area for sale of commercial buildings increased by 470,000 square meters.
3. Sources of Funds for Real Estate Development Enterprises
From January to June, real estate development enterprises invested 10,289.8 billion yuan, a year-on-year increase of 23.5 percent; It was 21.1 percent higher than that from January to June in 2019, with an average growth of 10.0 percent in two years. Among them, domestic loans amounted to 1,346.5 billion yuan, down 2.4 percent; foreign capital utilization was 4.2 billion yuan, down 9.1 percent; self-raised funds reached 3,015.3 billion yuan, an increase of 11.9 percent; the deposit and advance payment were 3,962.5 billion yuan, an increase of 49.7 percent; personal mortgage loans totaled 1,635.5 billion yuan, an increase of 23.9 percent.
4. National Real Estate Climate Index
In June, the real estate development climate index (referred to as "national housing climate index") was 101.05.
Investment in Real Estate Development for January-June
| Indicators | Absolute Value | Growth Rate Year-on-Year (%) |
| Investment in Real Estate (100 million yuan) | 72179 | 15.0 |
| Of which: Residential Buildings | 54244 | 17.0 |
| Office Buildings | 2910 | 6.7 |
| Buildings for Commercial Business | 6054 | 3.5 |
| Floor Space under Construction (10,000 sq.m) | 873251 | 10.2 |
| Of which: Residential Buildings | 617480 | 10.5 |
| Office Buildings | 34256 | 4.4 |
| Buildings for Commercial Business | 83296 | 1.0 |
| Floor Space of Houses Newly Started (10,000 sq.m) | 101288 | 3.8 |
| Of which: Residential Buildings | 75515 | 5.5 |
| Office Buildings | 2425 | -15.0 |
| Buildings for Commercial Business | 6977 | -12.7 |
| Floor Space of Buildings Completed (10,000 sq.m) | 36481 | 25.7 |
| Of which: Residential Buildings | 26254 | 27.0 |
| Office Buildings | 1245 | 21.0 |
| Buildings for Commercial Business | 3402 | 10.4 |
| Land Acquisition Area (10,000 sq.m) | 7021 | -11.8 |
| Value of Land Transactions (100 million yuan) | 3808 | -5.7 |
| Floor Space of Commercial Buildings Sold (10,000 sq.m) | 88635 | 27.7 |
| Of which: Residential Buildings | 79081 | 29.4 |
| Office Buildings | 1418 | 10.0 |
| Buildings for Business Use | 3868 | 5.7 |
| Sales of Commercial Buildings (100 million yuan) | 92931 | 38.9 |
| Of which: Residential Buildings | 84633 | 41.9 |
| Office Buildings | 1980 | 10.7 |
| Buildings for Commercial Business | 4216 | 8.8 |
| Floor Space of Commercial Housing for Sale (10,000 sq.m) | 51079 | 0.0 |
| Of which: Residential Buildings | 23132 | -3.0 |
| Office Buildings | 3740 | -1.9 |
| Buildings for Commercial Business | 12780 | -1.9 |
| Sources of Funds for Real Estate Development Enterprises (100 million yuan) | 102898 | 23.5 |
| Of which: Domestic Loans | 13465 | -2.4 |
| Foreign Investment | 42 | -9.1 |
| Self-raising Funds | 30153 | 11.9 |
| Deposits and Advance Payments | 39625 | 49.7 |
| Personal Mortgage | 16355 | 23.9 |
Real Estate Investment in Eastern, Central and Western Regions for January-June
| Regions | Investment (100 million yuan) | Growth Rate Y/Y (%) | ||
| Residential Buildings | Residential Buildings | |||
| National Total | 72179 | 54244 | 15.0 | 17.0 |
| Eastern | 38544 | 28216 | 13.6 | 15.3 |
| Central | 15053 | 12116 | 22.7 | 26.1 |
| Western | 15981 | 11926 | 12.2 | 14.0 |
| Northeastern | 2601 | 1987 | 11.8 | 9.5 |
Sales of Commercial Buildings in Eastern, Central and Western Regions for January-June
| 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 | 88635 | 27.7 | 92931 | 38.9 |
| Eastern | 37433 | 31.3 | 54169 | 45.9 |
| Central | 24609 | 33.4 | 18582 | 41.3 |
| Western | 23621 | 18.6 | 17684 | 22.1 |
| Northeastern | 2972 | 17.3 | 2497 | 16.5 |
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.
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.