National Real Estate Development and Sales in the First Eleven Months of 2015 (China)

National Real Estate Development and Sales in the First Eleven Months of 2015

National Bureau of Statistics of China2015-12-16 09:21

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1. The completion of real estate investment

The total investment in real estate development in the first eleven months of 2015 was 8,770.2 billion yuan, a nominal increase of 1.3 percent year-on-year, 0.7 percentage points lower over the first ten months. Of which, the investment in residential buildings was 5,906.9 billion yuan, up by 0.7 percent, 0.6 percentage point lower, and accounted for 67.4 percent of real estate development investment.

 

In the first eleven months, the real estate investment in eastern region stood at 4,878.9 billion yuan, up by 1.1 percent year-on-year, and the growth rate went down by 1.2 percentage points over the first ten months; the central region stood at 1,898.8 billion yuan, went up by 1.8 percent, and down by 0.2 percentage points; western region stood at 1,992.6 billion yuan, up by 1.1 percent, and a decrease of 0.4 percentage points.

In the first eleven months, the floor space under construction by the real estate development enterprises accounted for 7,239.90 million square meters, up by 1.8 percent year-on-year, dropped 0.5 percentage points over the first ten months. Of which, the floor space of residential building construction area was 5,033.47 million square meters, down by 0.3 percent. The floor space started this year was 14,056.9 millions square meters, down by 14.7 percent, and the pace of decline widened by 0.8 percentage points. Specifically, the floor space of residential buildings started in the year amounted to 970.77 million square meters, down by 15.3 percent. The floor space of buildings completed stood at 724.13 million square meters, went down by 3.5 percent, and the pace of decline narrowed by 0.7 percentage points. Of which, the floor space completed of residential buildings stood at 535.53 million square meters, went down by 6.4 percent.

In the first eleven months, the land area purchased by the real estate development enterprises totaled 198.94 million square meters, a year-on-year decrease of 33.1 percent, and the pace of decrease narrowed by 0.7 percentage points over the first ten months. The total transaction of land reached 640.9 billion yuan, decreased 26.0 percent, and the pace of decrease widened by 0.8 percentage points.

 

2. Sales of Commercial Buildings

In the first eleven months, the floor space of commercial buildings sold stood at 1,092.53 million square meters, a year-on-year increase of 7.4 percent, and up by 0.2 percentage points over the first ten months. Of the total, the floor space of residential buildings increased 7.9 percent, office building increased 16.2 percent, and buildings for business use increased 2.7 percent. The sales of commercial buildings amounted to 7,452.2 billion yuan, an increase of 15.6 percent, up by 0.7 percentage points. Specifically, the sales of residential buildings went up by 18.0 percent, office buildings up by 26.9 percent, buildings for commercial business up by 0.3 percent.

 

In the first eleven months, the sale of floor space of commercial buildings in eastern region amounted to 509.78 million square meters, a year-on-year increase of 9.6 percent, up by 0.3 percentage points over the first ten months. The amount of sales stood at 4,482.4 billion yuan, went up by 21.1 percent, an increase of 0.4 percentage points. The sale of floor space of commercial buildings in central region amounted to 294.36 million square meters, increased 7.3 percent, an increase of 0.3 percentage points. The amount of sales stood at 1,497.9 billion yuan, increased 10.9 percent, an increase of 1.4 percentage points. The sale of floor space of commercial buildings in western region amounted to 288.39 million square meters, an increase of 3.8 percent, a decrease of 0.1 percentage point. The amount of sales stood at 1,472.0 billion yuan, went up by 5.5 percent, and an increase of 0.9 percentage points.

At the end of November, the floor space of commercial housing for sale reached 696.37 million square meters, increased 10.04 million square meters compared with that at the end of October. Of which, the residential buildings for sale increased 4.39 million square meters, office buildings increased 0.90 million square meters, buildings for business use increased 3.18 million square meters.

3. Sources of Funds for Real Estate Development Enterprises

In the first eleven months, the sources of funds for real estate development enterprises reached 11,256.3 billion yuan, up by 2.2 percent year-on-year, and an increase of 0.9 percentage points over the first ten months. Specifically, the domestic loans stood at 1,862.8 billion yuan, decreased 3.2 percent, foreign investment stood at 25.8 billion yuan, down by 51.4 percent, self-raising funds stood at 4,464.8 billion yuan, down by 3.4 percent, and other sources stood at 4,902.9 billion yuan, up by 11.2 percent. Among the other sources of funds, deposits and advance payments totaled 2,853.8 billion yuan, increased 6.4 percent, personal mortgage loans totaled 1,471.4 billion yuan, up by 21.3 percent.

 

4. National Real Estate Climate Index

In November, the national real estate climate index was 93.35, increased 0.01  points month-on-month.

Investment in Real Estate Development for January-November
Indicators	Absolute Value	Growth Rate Year-on-Year (%)
Investment in Real Estate (100 million yuan)	87702	1.3
Of which: Residential Buildings	59069	0.7
Office Buildings	5652	10.3
Buildings for Commercial Business	13354	1.9
Floor Space under Construction (10,000 sq.m)	723990	1.8
Of which: Residential Buildings	503347	-0.3
Office Buildings	32451	11.7
Buildings for Commercial Business	98783	7.1
Floor Space of Houses Newly Started (10,000 sq.m)	140569	-14.7
Of which: Residential Buildings	97077	-15.3
Office Buildings	5860	-12.1
Buildings for Commercial Business	20700	-10.1
Land Acquisition Area (10,000 sq.m)	72413	-3.5
Value of Land Transactions (100 million yuan)	53553	-6.4
Floor Space of Buildings Completed (10,000 sq.m)	2377	16.3
Of which: Residential Buildings	8946	5.8
Office Buildings	19894	-33.1
Buildings for Commercial Business	6409	-26.0
Floor Space of Commercial Buildings Sold (10,000 sq.m)	109253	7.4
Of which: Residential Buildings	96011	7.9
Office Buildings	2434	16.2
Buildings for Business Use	7612	2.7
Sales of Commercial Buildings (100 million yuan)	74522	15.6
Of which: Residential Buildings	62532	18.0
Office Buildings	3136	26.9
Buildings for Commercial Business	7310	0.3
Floor Space of Commercial Housing for Sale (10,000 sq.m)	69637	16.5
Of which: Residential Buildings	44093	12.1
Office Buildings	3148	29.8
Buildings for Commercial Business	14206	24.5
Sources of Funds for Real Estate Development Enterprises 　(100 million yuan)	112563	2.2
Of which: Domestic Loans	18628	-3.2
Foreign Investment	258	-51.4
Self-raising Funds	44648	-3.4
Other Sources of Funds	49029	11.2
Deposits and Advance Payments	28538	6.4
Personal Mortgage	14714	21.3

Real Estate Investment in Eastern, Central and Western Regions for January-November
Regions	Investment (100 million yuan)		Growth Rate Y/Y (%)
		Residential Buildings		Residential Buildings
National Total	87702	59069	1.3	0.7
Eastern	48789	32728	1.1	1.2
Central	18988	13297	1.8	1.3
Western	19926	13045	1.1	-1.2

Sales of Commercial Buildings in Eastern, Central and Western Regions for January-November
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	109253	7.4	74522	15.6
Eastern	50978	9.6	44824	21.1
Central	29436	7.3	14979	10.9
Western	28839	3.8	14720	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.

Floor space of commercial housing for sale: refers to the floor space of commercial housing having not been sold or rented, among the floor space of commercial housing for sale or for rent finished at the end of report period. The floor space of housing completed in previous years and in current period is included, while the floor space of housing not for sale or for rent, such as housing removal and compensation, unified construction and agent-construction, public buildings, housing for own use of real estate companies, relocation housing, is not included.

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 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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