National Real Estate Development and Sales in 2022

1. The Completion of Real Estate Investment

 

In 2022, the national real estate development investment was 13,289.5 billion yuan, a decrease of 10.0 percent over the previous year; Among them, the residential investment was 10,064.6 billion yuan, down 9.5 percent.

 

 

In 2022, the housing construction area of real estate development enterprises was 9,049.99 million square meters, a decrease of 7.2 percent over the previous year. Among them, the residential construction area was 6,396.96 million square meters, down 7.3 percent. The newly started area of houses was 1,205.87 million square meters, down 39.4 percent. Among them, the newly started residential area was 881.35 million square meters, down 39.8 percent. The completed area of houses was 862.22 million square meters, down 15.0 percent. Among them, the completed residential area was 625.39 million square meters, down 14.3 percent.

 

2. Sales of Commercial Buildings

 

In 2022, the sales area of commercial housing was 1,358.37 million square meters, a decrease of 24.3 percent over the previous year, of which the residential sales area decreased by 26.8 percent. The sales of commercial housing was 13,330.8 billion yuan, down 26.7 percent, of which residential sales decreased by 28.3 percent.

 

 

At the end of 2022, the area of commercial housing for sale was 563.66 million square meters, an increase of 10.5 percent over the previous year. Among them, the residential area for sale increased by 18.4 percent.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In 2022, the funds put in place by real estate development enterprises were 14,897.9 billion yuan, a decrease of 25.9 percent over the previous year. Among them, domestic loans were 1,738.8 billion yuan, down 25.4 percent; the utilized foreign capital was 7.8 billion yuan, down 27.4 percent; self-raised funds reached 5,294 billion yuan, down 19.1 percent; deposits and advance receipts were 4,928.9 billion yuan, down 33.3 percent; personal mortgage loans reached 2,381.5 billion yuan, down 26.5 percent.

 

 

4. National Real Estate Climate Index

 

In December 2022, the real estate development prosperity index (hereinafter referred to as "China's real estate climate index") was 94.35.

 

 

 

Investment in Real Estate Development for Jan-Dec

 

 

 

Real Estate Investment in Eastern, Central and Western Regions for Jan-Dec

 

 

Sales of Commercial Buildings in Eastern, Central and Western Regions for Jan-Dec

 

 

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 index is cumulatively statistical data based on the principle of image progress.

 

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.

 

Area for sale of commercial housing: refers to the area of commercial housing that has not been sold or leased among the completed construction areas of commercial housing available for sale or lease at the end of the reporting period, including the area of housing completed in the previous year and the current period, but excluding the area of housing that cannot be sold or leased, such as demolition and reconstruction, unified construction agency, public supporting buildings, self-use of real estate companies and revolving houses that have been completed in the reporting period.

 

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 cumulatively statistical data based on the principle of image progress.

 

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.