National Real Estate Development and Sales in June 2014
National Bureau of Statistics of China2014-07-17 10:35




1. The completion of real estate investment

 

The total investment in real estate development in the first six months of 2014 was 4,201.9 billion yuan, a nominal increase of 14.1 percent year-on-year (actual increase was 13.1 percent after deducting price factors), 0.6 percentage points lower over the first five months. Of which, the investment in residential buildings was 2,868.9 billion yuan, up by 13.7 percent, 0.9 percentage points lower, and accounted for 68.3 percent of real estate development investment.

 

 

 

In the first six months, the real estate investment in eastern region stood at 2,422.3 billion yuan, up by 14.6 percent year-on-year, and the growth rate went down by 1.4 percentage points over the first five months; the central region stood at 855.8 billion yuan, went up by 11.9 percent, and up by 1.5 percentage points; western region stood at 923.7 billion yuan, up by 14.8 percent, and a decrease of 0.6 percentage points.

 

In the first six months, the floor space under construction by the real estate development enterprises accounted for 6,114.06 million square meters, up by 11.3 percent year-on-year, decreased 0.7 percentage points over the first five months. Of which, the floor space of residential building construction area was 4,371.95 million square meters, up by 8.3 percent. The floor space started this year was 801.26 millions square meters, down by 16.4 percent, and the pace of decline narrowed 2.2 percentage points. Specifically, the floor space of residential buildings started in the year amounted to 566.74 million square meters, down by 19.8 percent. The floor space of buildings completed stood at 382.15 million square meters, went up by 8.1 percent, an increase of 1.3 percentage points. Of which, the floor space completed of residential buildings stood at 291.68 million square meters, went up by 6.3 percent.

 

In the first six months, the land area purchased by the real estate development enterprises totaled 148.07 million square meters, a year-on-year decrease of 5.8 percent, and the pace of decline expanded 0.1 percentage point. The total transaction of land reached 403.1 billion yuan, increased 9.0 percent, an increase of 0.3 percentage points.

 

 

 

2. Sales of Commercial Buildings

 

In the first six months, the floor space of commercial buildings sold stood at 483.65 million square meters, a year-on-year decrease of 6.0 percent, and the pace of decrease narrowed 1.8 percentage points over the first five months. Of the total, the floor space of residential buildings decreased 7.8 percent, office building decreased 2.8 percent, and buildings for business use increased 7.7 percent. The sales of commercial buildings amounted to 3,113.3 billion yuan, a decrease of 6.7 percent, and the pace of decrease narrowed 1.8 percentage points over the first five months. Specifically, the sales of residential buildings went down by 9.2 percent, office buildings down by 12.1 percent, buildings for commercial business up by 9.8 percent.

 

 

 

In the first six months, the sale of floor space of commercial buildings in eastern region amounted to 226.30 million square meters, a year-on-year decrease of 13.3 percent, and the pace of decrease narrowed 1.1 percentage points over the first five months. The amount of sales stood at 1,805.1 billion yuan, went down by 14.0 percent, and the pace of decrease narrowed 0.7 percentage points. The sale of floor space of commercial buildings in central region amounted to 129.87 million square meters, increased 1.8 percent, an increase of 1.5 percentage points. The amount of sales stood at 651.1 billion yuan, increased 5.7 percent, an increase of 2.5 percentage points. The sale of floor space of commercial buildings in western region amounted to 127.47 million square meters, an increase of 1.4 percent, while that in May was down by 2.1 percent. The amount of sales stood at 657.1 billion yuan, went up by 5.5 percent, an increase of 3.7 percentage points.

 

At the end of June, the floor space of commercial housing for sale reached 544.28 million square meters, increased 10.26 million square meters compared with that at the end of May. Of which, the residential buildings for sale increased 6.34 million square meters, office buildings increased 0.58 million square meters, buildings for business use climbed 2.12 million square meters.

 

3. Sources of Funds for Real Estate Development Enterprises

 

In the first six months, the sources of funds for real estate development enterprises reached 5,891.3 billion yuan, up by 3.0 percent year-on-year, 0.6 percentage points lower over the first five months. Specifically, the domestic loans stood at 1,129.3 billion yuan, increased 14.1 percent, foreign investment stood at 18.6 billion yuan, down by 20.6 percent, self-raising funds stood at 2,381.0 billion yuan, up by 10.1 percent, and other sources stood at 2,362.4 billion yuan, down by 7.2 percent. Among the other sources of funds, deposits and advance payments totaled 1,425.2 billion yuan, decreased 9.3 percent, personal mortgage loans totaled 651.2 billion yuan, down by 3.7 percent.

 

 

 

4. National Real Estate Climate Index

 

In June, the national real estate climate index was 94.84, decreased 0.18 points over that in last month.

 

Investment in Real Estate Development for January-June

 

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

 

 

 

 Investment in Real Estate (100 million yuan)

42019

14.1

  Of which: Residential Buildings

28689

13.7

      Office Buildings

2394

19.0

      Buildings for Commercial Business

6172

23.2

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

611406

11.3

  Of which: Residential Buildings

437195

8.3

      Office Buildings

24739

23.3

      Buildings for Commercial Business

77445

18.5

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

80126

-16.4

  Of which: Residential Buildings

56674

-19.8

      Office Buildings

3098

3.2

      Buildings for Commercial Business

10732

-8.9

 Land Acquisition Area (10,000 sq.m)

14807

-5.8

 Value of Land Transactions (100 million yuan)

4031

9.0

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

38215

8.1

  Of which: Residential Buildings

29168

6.3

      Office Buildings

980

14.0

      Buildings for Commercial Business

4353

7.2

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

48365

-6.0

  Of which: Residential Buildings

42487

-7.8

      Office Buildings

1090

-2.8

      Buildings for Business Use

3300

7.7

 Sales of Commercial Buildings (100 million yuan)

31133

-6.7

  Of which: Residential Buildings

25632

-9.2

      Office Buildings

1331

-12.1

      Buildings for Commercial Business

3373

9.8

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

54428

24.5

  Of which: Residential Buildings

35917

25.0

      Office Buildings

2135

20.6

      Buildings for Commercial Business

10355

23.4

 Sources of Funds for Real Estate Development Enterprises

 (100 million yuan)

58913

3.0

  Of which: Domestic Loans

11293

14.1

      Foreign Investment

186

-20.6

      Self-raising Funds

23810

10.1

      Other Sources of Funds

23624

-7.2

      Deposits and Advance Payments

14252

-9.3

      Personal Mortgage

6512

-3.7

 

 

 

 

 

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

42019

28689

14.1

13.7

Eastern

24223

16382

14.6

14.1

Central

8558

6070

11.9

13.7

Western

9237

6237

14.8

12.8

 

 

 

 

 

 

 

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

(10,000 Sq.m)

Growth Rate Y/Y (%)

Absolute

Value

(100 million yuan)

Growth Rate Y/Y (%)

 

 

 

 

 

National Total

48365

-6.0

31133

-6.7

Eastern

22630

-13.3

18051

-14.0

Central

12987

1.8

6511

5.7

Western

12747

1.4

6571

5.5

 

 

 

 

 

 

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-storey 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 e 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 can not 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 handed 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

 

National real estate climate index fluctuations follow by the economic cycle theory, according to the business cycle theory and business cycle analysis, based on the use of time series, multivariate statistical, econometric analysis, use the real estate development and investment as the benchmarks, selected related indicators such as real estate investment, capital, area, sales, conducted by the seasonal factors and random factors, adopting the growth rate cycle method. National real estate index selected year 2000 as the base year, its growth rate 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 and Western Regions

 

Eastern region includes Beijing, Tianjin, Hebei, Liaoning, Shanghai, Jiangsu, Zhejiang, Fujian, Shandong, Guangdong, and Hainan. Central region includes Shanxi, Jilin, Heilongjiang, Anhui, Jiangxi, Henan, Hubei, and Hunan. Western region includes Inner Mongolia, Guangxi, Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Qinghai, Ningxia, and Xinjiang.

 

6. Calculation on Growth Rate

 

The growth rate of real estate investment is nominal growth rate, due to the investment in fixed assets price index was calculated on quarterly, in addition to the January-March, January-June, January-September, and January-December was calculated on computable real growth rate, the other months only calculated the nominal growth rate.

 

 

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