National Real Estate Development and Sales in the First Ten Months of 2021
National Bureau of Statistics of China2021-11-16 10:00




1. The completion of real estate investment

 

From January to October, the national investment in real estate development was 12,493.4 billion yuan, a year-on-year increase of 7.2 percent; it was 14.0 percent higher than that from January to October 2019, with an average growth of 6.8 percent in the two years. Among them, the residential investment was 9,432.7 billion yuan, an increase of 9.3 percent.

 

 

From January to October, the investment in real estate development in the eastern region was 6,590.2 billion yuan, a year-on-year increase of 6.8 percent; the central region invested 2,619.4 billion yuan, an increase of 12.1 percent; the investment in the western region was 2,796.3 billion yuan, an increase of 5.0 percent; and the investment in northeast China was 487.4 billion yuan, an increase of 0.8 percent.

 

From January to October, the housing construction area of real estate development enterprises was 9,428.59 million square meters, a year-on-year increase of 7.1 percent. Among them, the residential construction area was 6,678.01 million square meters, an increase of 7.4 percent. The new construction area of houses was 1,667.36 million square meters, down 7.7 percent. Among them, the newly started residential area was 1,234.81 million square meters, down 6.8 percent. The completed housing area was 572.9 million square meters, an increase of 16.3 percent. Among them, the completed residential area was 414.15 million square meters, an increase of 16.9 percent.

 

From January to October, the land acquisition area of real estate development enterprises was 158.24 million square meters, a year-on-year decrease of 11.0 percent; the land transaction price was 1,141 billion yuan, an increase of 0.2 percent.

 

2. Sales of Commercial Buildings

 

From January to October, the sales area of commercial housing was 1,430.41 million square meters, a year-on-year increase of 7.3 percent; it was 7.3 percent higher than that from January to October 2019, with an average growth of 3.6 percent in the two years. Among them, the sales area of residential buildings increased by 7.1 percent, the sales area of office buildings increased by 2.4 percent, and the sales area of commercial business houses decreased by 0.6 percent. The sales volume of commercial housing was 14,718.5 billion yuan, an increase of 11.8 percent; it was 18.3 percent higher than that from January to October 2019, with an average growth of 8.8 percent in the two years. Among them, residential sales increased by 12.7 percent, office building sales decreased by 1.6 percent, and commercial business housing sales decreased by 0.6 percent.

 

 

From January to October, the sales area of commercial houses in the eastern region was 594.26 million square meters, a year-on-year increase of 9.0 percent; Sales reached 8,462.2 billion yuan, an increase of 15.7 percent. The sales area of commercial housing in the central region was 402.02 million square meters, an increase of 11.5 percent; sales reached 3,004.2 billion yuan, an increase of 14.1 percent. The sales area of commercial houses in the western region was 381.6 million square meters, an increase of 2.7 percent; the sales volume was 2,827.1 billion yuan, an increase of 2.6 percent. The sales area of commercial housing in northeast China was 52.53 million square meters, down 5.4 percent; and the sales volume was 424.9 billion yuan, down 7.8 percent.

                         

At the end of October, the area of commercial housing for sale was 502.03 million square meters, a decrease of 810,000 square meters compared with the end of September. Among them, the area for sale of residential buildings decreased by 410,000 square meters, the area for sale of office buildings increased by 540,000 square meters, and the area for sale of commercial business houses decreased by 10,000 square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

From January to October, real estate development enterprises paid in 16,659.7 billion yuan, a year-on-year increase of 8.8 percent; it was 14.8 percent higher than that from January to October 2019, with an average growth of 7.1 percent in the two years. Among them, domestic loans amounted to 2,014.8 billion yuan, down 10.0 percent; foreign capital utilization was 7.2 billion yuan, down 35.4 percent; self-raised funds were 5,261.7 billion yuan, an increase of 5.1 percent; deposits and advance receipts reached 6,204 billion yuan, an increase of 21.0 percent; and personal mortgage loans reached 2,667.8 billion yuan, an increase of 9.7 percent.

 

 

4. National Real Estate Climate Index

 

In October, the real estate development climate index (referred to as "national housing climate index") was 100.62.

 

 

Investment in Real Estate Development for January-October

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

     

 Investment in Real Estate (100 million yuan)

124934

7.2

  Of which: Residential Buildings

94327

9.3

      Office Buildings

4908

-4.9

      Buildings for Commercial Business

10492

-1.8

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

942859

7.1

  Of which: Residential Buildings

667801

7.4

      Office Buildings

36378

1.9

      Buildings for Commercial Business

88536

-1.2

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

166736

-7.7

  Of which: Residential Buildings

123481

-6.8

      Office Buildings

4145

-23.2

      Buildings for Commercial Business

11878

-18.5

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

57290

16.3

  Of which: Residential Buildings

41415

16.9

      Office Buildings

1851

13.5

      Buildings for Commercial Business

5134

4.7

 Land Acquisition Area (10,000 sq.m)

15824

-11.0

 Value of Land Transactions (100 million yuan)

11410

0.2

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

143041

7.3

  Of which: Residential Buildings

126419

7.1

      Office Buildings

2508

2.4

      Buildings for Business Use

6651

-0.6

 Sales of Commercial Buildings (100 million yuan)

147185

11.8

  Of which: Residential Buildings

132902

12.7

      Office Buildings

3526

-1.6

      Buildings for Commercial Business

7164

-0.6

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

50203

1.4

  Of which: Residential Buildings

22379

0.5

      Office Buildings

3716

-2.1

      Buildings for Commercial Business

12746

-1.4

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

166597

8.8

  Of which: Domestic Loans

20148

-10.0

      Foreign Investment

72

-35.4

      Self-raising Funds

52617

5.1

      Deposits and Advance Payments

62040

21.0

      Personal Mortgage

26678

9.7

     

 

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

 

Regions

Investment

(100 million yuan)

 

Growth Rate Y/Y (%)

 

Residential Buildings

Residential Buildings

         

National Total

124934

94327

7.2

9.3

Eastern

65902

48351

6.8

8.4

Central

26194

21195

12.1

15.5

Western

27963

21033

5.0

7.0

Northeastern

4874

3747

0.8

2.0

         

                                                   

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

 

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

143041

7.3

147185

11.8

Eastern

59426

9.0

84622

15.7

Central

40202

11.5

30042

14.1

Western

38160

2.7

28271

2.6

Northeastern

5253

-5.4

4249

-7.8

         

 

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.

 

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.

 

Annex
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