Results

National Bureau of Statistics of China

11/15/2019 | Press release | Distributed by Public on 11/14/2019 21:14

National Real Estate Development and Sales in the First Ten Months of 2019

1. The completion of real estate investment

The total investment in real estate development in the first ten months of 2019 was 10,960.3 billion yuan, an increase of 10.3 percent year-on-year, the growth rate fell by 0.2 percentage point over the first nine months of 2019. Of which, the investment in residential buildings was 8,066.6 billion yuan, up by 14.6 percent, and the growth rate fell by 0.3 percentage point over the first nine months of 2019.

In the first ten months, the real estate investment in eastern region stood at 5,761.5 billion yuan, up by 8.4 percent year-on-year, and the growth rate went down by 0.2 percentage point over the first nine months in 2019, the central region stood at 2,282.2 billion yuan, went up by 10.0 percent, and the growth rate unchanged, western region stood at 2,458.8 billion yuan, up by 15.7 percent, and the growth rate decreased by 0.5 percentage point, northeastern region reached 457.9 billion yuan, increased by 9.5 percent, and the growth rate decreased by 0.4 percentage point.

In the first ten months, housing construction area of real estate development enterprises was 8,548.82 million square meters, up 9.0 percent year-on-year, the growth rate was 0.3 percentage point faster than in the first nine months. Of the total, the residential construction area was 5,988.02 million square meters, an increase of 10.4 percent. The new construction area of houses was 1,856.34 million square meters, an increase of 10.0 percent, and the growth rate up by 1.4 percentage points. Of which, new residential construction area was 1,369.37 million square meters, an increase of 10.5 percent. The completed area of houses was 542.11 million square meters, down by 5.5 percent, and the pace of decline was narrowed by 3.1 percentage points. Of which, the completed area of residential buildings was 384.74 million square meters, down by 5.5 percent.

In the first ten months, the land area purchased by the real estate development enterprises totaled 183.83 million square meters, was down by 16.3 percent year-on-year, and the pace of decline narrowed 3.9 percentage points over the first nine months. The total transaction of land reached 992.1 billion yuan, decreased by 15.2 percent, and the pace of decline narrowed 3.0 percentage points.

2. Sales of Commercial Buildings

In the first ten months, the floor space of commercial buildings sold stood at 1,332.51 million square meters, a year-on-year decrease of 0.1 percent, and the growth rate has changed from negative to positive for the first time since this year, which decreased by 0.1 percent in the first nine months. Of the total, the floor space of residential buildings increased by 1.5 percent, office building decreased by 11.9 percent, and buildings for business use decreased by 14.0 percent. The sales of commercial buildings amounted to 12,441.7 billion yuan, an increase of 7.3 percent, and the growth rate went up by 0.2 percentage point. Specifically, the sales of residential buildings went up by 10.8 percent, office buildings were down by 11.5 percent, buildings for commercial business decreased by 13.4 percent.

In the first ten months, the sale of floor space of commercial buildings in eastern region amounted to 524.15 million square meters, decreased by 2.1 percent year-on-year, the pace of decline narrowed 0.8 percentage point over the first nine months. The amount of sales stood at 6,584.4 billion yuan, went up by 6.8 percent, and the growth rate went up by 0.8 percentage point. The sale of floor space of commercial buildings in central region amounted to 379.60 million square meters, increased by 0.6 percent and the growth rate faster 0.1 percentage point. The amount of sales stood at 2,711.8 billion yuan, increased by 6.8 percent, and the growth rate went down by 0.4 percentage point. The sale of floor space of commercial buildings in western region amounted to 367.86 million square meters, increased by 3.8 percent, and the growth rate went down by 0.8 percentage point. The amount of sales stood at 2,661.1 billion yuan, increased by 10.1 percent, and the growth rate went down by 0.5 percentage point. The sale of floor space of commercial buildings in northeastern region amounted to 60.90 million square meters, decreased by 5.0 percent, and the pace of decline narrowed 0.9 percentage point. The amount of sales stood at 484.4 billion yuan, went up by 3.3 percent, the growth rate went up by 0.8 percentage point.

At the end of October, the floor space of commercial housing for sale reached 493.23 million square meters, decreased by 0.23 million square meters compared with that at the end of September. Of which, the residential buildings for sale decreased by 1.25 million square meters, office buildings increased by 90 thousand square meters, buildings for business use went down by 170 thousand square meters.

3. Sources of Funds for Real Estate Development Enterprises

In the first ten months, the sources of funds for real estate development enterprises reached 14,515.1 billion yuan, up by 7.0 percent year-on-year, and the growth rate decreased by 0.1 percentage point over the first nine months. Specifically, the domestic loans stood at 2,128.8 billion yuan, increased by 7.9 percent, foreign investment stood at 13.1 billion yuan, an increase of 63.2 percent, self-raising funds stood at 4,699.6 billion yuan, up by 3.3 percent, deposits and advance payments totaled 4,916.3 billion yuan, up by 9.4 percent, personal mortgage loans totaled 2,213.7 billion yuan, up by 14.1 percent.

4. National Real Estate Climate Index

In October, the national real estate climate index was 101.14, up by 0.06 percentage point month-on-month.

Investment in Real Estate Development for January-October

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

Investment in Real Estate (100 million yuan)

109603

10.3

Of which: Residential Buildings

80666

14.6

Office Buildings

4988

1.6

Buildings for Commercial Business

10987

-7.6

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

854882

9.0

Of which: Residential Buildings

598802

10.4

Office Buildings

36174

4.1

Buildings for Commercial Business

97837

-1.9

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

185634

10.0

Of which: Residential Buildings

136937

10.5

Office Buildings

5815

18.5

Buildings for Commercial Business

15505

-4.2

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

54211

-5.5

Of which: Residential Buildings

38474

-5.5

Office Buildings

2034

-5.4

Buildings for Commercial Business

6336

-11.2

Land Acquisition Area (10,000 sq.m)

18383

-16.3

Value of Land Transactions (100 million yuan)

9921

-15.2

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

133251

0.1

Of which: Residential Buildings

117133

1.5

Office Buildings

2866

-11.9

Buildings for Business Use

7777

-14.0

Sales of Commercial Buildings (100 million yuan)

124417

7.3

Of which: Residential Buildings

108948

10.8

Office Buildings

4107

-11.5

Buildings for Commercial Business

8559

-13.4

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

49323

-6.6

Of which: Residential Buildings

22373

-12.9

Office Buildings

3680

4.3

Buildings for Commercial Business

13194

-5.6

Sources of Funds for Real Estate Development Enterprises

(100 million yuan)

145151

7.0

Of which: Domestic Loans

21288

7.9

Foreign Investment

131

63.2

Self-raising Funds

46996

3.3

Deposits and Advance Payments

49163

9.4

Personal Mortgage

22137

14.1

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

Regions

Investment

(100 million yuan)

Growth Rate Y/Y (%)

Residential Buildings

Residential Buildings

National Total

109603

80666

10.3

14.6

Eastern

57615

41651

8.4

10.8

Central

22822

17662

10.0

14.4

Western

24588

17881

15.7

25.0

Northeastern

4579

3472

9.5

13.9

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

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

133251

0.1

124417

7.3

Eastern

52415

-2.1

65844

6.8

Central

37960

0.6

27118

6.8

Western

36786

3.8

26611

10.1

Northeastern

6090

-5.0

4844

3.3

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 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

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.