National Real Estate Development and Sales from January to February 2023

1. The Completion of Real Estate Investment

 

From January to February, the national real estate development investment was 1,366.9 billion yuan, a year-on-year decrease of 5.7 percent; Among them, the residential investment was 1,027.3 billion yuan, down 4.6 percent.

 

 

From January to February, the housing construction area of real estate development enterprises was 7,502.4 million square meters, a year-on-year decrease of 4.4 percent. Among them, the residential construction area was 5,276.95 million square meters, down 4.7 percent. The newly started area of houses was 135.67 million square meters, down 9.4 percent. Among them, the newly started residential area was 98.91 million square meters, down 8.7 percent. The completed area of houses was 131.78 million square meters, up 8.0 percent. Among them, the completed residential area was 97.82 million square meters, up 9.7 percent.

 

2. Sales of Commercial Buildings

 

From January to February, the sales area of commercial housing was 151.33 million square meters, a year-on-year decrease of 3.6 percent, of which the residential sales area decreased by 0.6 percent. The sales of commercial housing was 1,544.9 billion yuan, down 0.1 percent, of which residential sales increased by 3.5 percent.

 

 

At the end of February, the area of commercial housing for sale was 655.28 million square meters, a year-on-year increase of 14.9 percent. Among them, the residential area for sale increased by 15.5 percent.

 

3. Sources of Funds for Real Estate Development Enterprises

 

From January to February, the funds put in place by real estate development enterprises were 2,133.1 billion yuan, a year-on-year decrease of 15.2 percent. Among them, domestic loans were 348.9 billion yuan, down 15.0 percent; the utilized foreign capital was 500 million yuan, down 34.5 percent; self-raised funds reached 634.2 billion yuan, down 18.2 percent; deposits and advance receipts were 711.2 billion yuan, down 11.4 percent; personal mortgage loans reached 349.5 billion yuan, down 15.3 percent.

 

 

4. National Real Estate Climate Index

 

In February, the real estate development prosperity index (hereinafter referred to as "China's real estate climate index") was 94.67.

 

 

Investment in Real Estate Development for Jan-Feb

 

 

 

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

 

 

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

 

 

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.

 

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.