National Bureau of Statistics of China

01/19/2020 | Press release | Distributed by Public on 01/18/2020 20:56

National Real Estate Development and Sales in 2019

1. The completion of real estate investment

From January to December 2019, China's real estate development investment was 13,219.4 billion yuan, up 9.9 percent over the previous year, down 0.3 percentage point from January to November, and up 0.4 percentage point over the previous year. Among them, residential investment reached 9,707.1 billion yuan, up 13.9 percent, 0.5 percentage point lower than that from January to November, and 0.5 percentage point higher than that of the previous year.

In 2019, the investment in real estate development in the eastern region was 6,931.3 billion yuan, an increase of 7.7 percent over the previous year, and the growth rate dropped by 0.6 percentage point from January to November; the investment in the central region was 2,758.8 billion yuan, an increase of 9.6 percent , and the growth rate dropped by 0.1 percentage point; the investment in the western region was 3,018.6 billion yuan, an increase of 16.1 percent, and the growth rate increased by 0.8 percentage point; the investment in the northeast region was 510.7 billion yuan, an increase of 8.2 percent , and the growth rate dropped by 0.7 percentage point.

In 2019, the housing construction area of real estate development enterprises was 8,938.21 million square meters, an increase of 8.7 percent over the previous year. The growth rate was the same as that from January to November, 3.5 percentage points higher than that of the previous year. Among them, the residential construction area was 6,276.73 million square meters, an increase of 10.1 percent. The newly constructed area of housing is 2,271.54 million square meters, up 8.5 percent, 0.1 percentage point lower than that from January to November, and 8.7 percentage points lower than that of last year. Among them, the newly started residential area was 1,674.63 million square meters, an increase of 9.2 percent. The completed area of the house was 959.42 million square meters, an increase of 2.6 percent. From January to November, it fell by 4.5 percent, and from the previous year, it fell by 7.8 percent. Among them, the completed residential area was 680.11 million square meters, an increase of 3.0 percent.

In 2019, the land area purchased by the real estate development enterprises was 258.22 million square meters, down 11.4 percent over the previous year, 2.8 percentage points lower than that from January to November, and up 14.2 percent in the previous year; the land transaction price was 1,470.9 billion yuan, down 8.7 percent, 4.3 percentage points lower than that from January to November, and up 18.0 percent in the previous year.

2. Sales of Commercial Buildings

In 2019, the sales area of commercial housing was 1,715.58 million square meters, down 0.1 percent over the previous year, up 0.2 percent from January to November, and up 1.3 percent in the previous year. Among them, the sales area of residential buildings increased by 1.5 percent, the sales area of office buildings decreased by 14.7 percent, and the sales area of commercial buildings decreased by 15.0 percent. The sales volume of commercial housing reached 15,972.5 billion yuan, an increase of 6.5 percent, 0.8 percentage point lower than that from January to November, and 5.7 percentage points lower than that of the previous year. Among them, the sales of residential buildings increased by 10.3 percent, the sales of office buildings decreased by 15.1 percent, and the sales of commercial buildings decreased by 16.5 percent.

In 2019, the sales area of commercial housing in the eastern region was 666.07 million square meters, down 1.5 percent over the previous year, 0.2 percentage point higher than that from January to November; the sales volume was 8,383.3 billion yuan, up 5.8 percent, and the growth rate dropped 1.3 percentage points. The sales area of commercial housing in the central region was 500.37 million square meters, down 1.3 percent, with a 1.0 percentage point increase; the sales volume was 3,550.5 billion yuan, up 4.9 percent, with a 0.7 percentage point decrease. The sales area of commercial housing in the western region was 474.1 million square meters, an increase of 4.4 percent, with a growth rate of 0.6 percent; the sales volume was 3,448.8 billion yuan, with a growth rate of 10.8 percent, and 0.2 percentage point of faster. The sales area of commercial housing in northeast China was 75.03 million square meters, down 5.3 percent, with a decrease rate of 0.8 percentage point; the sales volume was 589.9 billion yuan, up 2.8 percent, with a decrease rate of 0.6 percentage point.

By the end of 2019, the area for sale of commercial housing was 498.21 million square meters, an increase of 6 million square meters over the end of November, and a decrease of 25.93 million square meters over the end of last year. Among them, the area for sale of residential buildings increased by 1.92 million square meters over the end of November, the area for sale of office buildings increased by 1.05 million square meters, and the area for sale of commercial and business houses increased by 840 thousand square meters.

3. Sources of Funds for Real Estate Development Enterprises

In 2019, the sources of funds for real estate development enterprises reached 17,860.9 billion yuan, an increase of 7.6 percent over the previous year, the growth rate was 0.6 percentage point faster than that from January to November, and 1.2 percentage points faster than that of the previous year. Among them, domestic loans reached 2,522.9 billion yuan, an increase of 5.1 percent; foreign investment reached 17.6 billion yuan, an increase of 62.7 percent; self-raised funds reached 5,815.8 billion yuan, an increase of 4.2 percent; deposits and advances reached 6,135.9 billion yuan, an increase of 10.7 percent; personal mortgage loans reached 2,728.1 billion yuan, an increase of 15.1 percent.

4. National Real Estate Climate Index

In December, the real estate development climate index (referred to as 'national housing climate index') was 101.13, 0.02 point lower than that in November.

Investment in Real Estate Development for January-December

Indicators

Absolute

Value

Growth Rate

Year-on-Year

(%)

Investment in Real Estate (100 million yuan)

132194

9.9

Of which: Residential Buildings

97071

13.9

Office Buildings

6163

2.8

Buildings for Commercial Business

13226

-6.7

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

893821

8.7

Of which: Residential Buildings

627673

10.1

Office Buildings

37252

3.9

Buildings for Commercial Business

100389

-2.2

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

227154

8.5

Of which: Residential Buildings

167463

9.2

Office Buildings

7084

17.1

Buildings for Commercial Business

18936

-5.6

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

95942

2.6

Of which: Residential Buildings

68011

3.0

Office Buildings

3923

1.0

Buildings for Commercial Business

10814

-3.9

Land Acquisition Area (10,000 sq.m)

25822

-11.4

Value of Land Transactions (100 million yuan)

14709

-8.7

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

171558

-0.1

Of which: Residential Buildings

150144

1.5

Office Buildings

3723

-14.7

Buildings for Business Use

10173

-15.0

Sales of Commercial Buildings (100 million yuan)

159725

6.5

Of which: Residential Buildings

139440

10.3

Office Buildings

5329

-15.1

Buildings for Commercial Business

11141

-16.5

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

49821

-4.9

Of which: Residential Buildings

22473

-10.4

Office Buildings

3800

4.1

Buildings for Commercial Business

13282

-3.7

Sources of Funds for Real Estate Development Enterprises

(100 million yuan)

178609

7.6

Of which: Domestic Loans

25229

5.1

Foreign Investment

176

62.7

Self-raising Funds

58158

4.2

Deposits and Advance Payments

61359

10.7

Personal Mortgage

27281

15.1

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

Regions

Investment

(100 million yuan)

Growth Rate Y/Y (%)

Residential Buildings

Residential Buildings

National Total

132194

97071

9.9

13.9

Eastern

69313

49839

7.7

9.9

Central

27588

21439

9.6

14.0

Western

30186

21946

16.1

24.7

Northeastern

5107

3847

8.2

12.1

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

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

171558

-0.1

159725

6.5

Eastern

66607

-1.5

83833

5.8

Central

50037

-1.3

35505

4.9

Western

47410

4.4

34488

10.8

Northeastern

7503

-5.3

5899

2.8

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 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.