In the first five months of this year, China experienced a decline in real estate investment, with a year-on-year decrease of 7.2%. The total investment in real estate development during this period amounted to 4,570.1 billion yuan. Specifically, investment in residential buildings saw a decline of 6.4%, reaching 3,480.9 billion yuan.
Moreover, the floor space of real estate development projects under construction also experienced a decrease. From January to May, the floor space of these projects reached 7,795.06 million square meters, reflecting a decline of 6.2% compared to the same period last year. The floor space of residential buildings under construction saw a similar trend, decreasing by 6.5%.
On the other hand, the floor space of newly started buildings experienced a significant decline of 22.6%, reaching 397.23 million square meters. Among these, the floor space of newly started residential buildings decreased by 22.7%, totaling 290.1 million square meters. In contrast, the floor space of completed buildings saw a notable increase of 19.6%, reaching 278.26 million square meters. This increase was primarily driven by a growth of 19.0% in the floor space of completed residential buildings, amounting to 201.94 million square meters.
In terms of commercial buildings, the floor space sold experienced a slight decline of 0.9% year-on-year, totaling 464.4 million square meters. However, the sales of commercial buildings increased by 8.4%, reaching 4,978.7 billion yuan. Notably, the sales of residential buildings within the commercial sector saw a significant growth of 11.9%.
At the end of May, the floor space of commercial buildings available for sale witnessed a year-on-year increase of 15.7%, totaling 641.2 million square meters. This increase was mainly driven by a rise of 15.9% in the floor space of residential buildings available for sale.
Regarding the funds for investment in real estate development enterprises, a decrease of 6.6% was observed, amounting to 5,595.8 billion yuan. This decrease encompassed various sources, including domestic loans, foreign investment, self-raised funds, deposits and advance receipts, and individual mortgages.
The national real estate climate index for May stood at 94.56, reflecting the overall state of the real estate market.
The data presented above highlights the dynamics of China’s real estate sector during the first five months of the year, indicating a decline in investment and construction activity, along with changes in sales and available floor space.
http://www.stats.gov.cn/english/PressRelease/202306/t20230620_1940781.html