The report from the National Bureau of Statistics of China provides information about the investment in real estate development for the first quarter of the year (January to March). The data shows that the investment in real estate development during this period was 2,597.4 billion yuan, which is a decrease of 5.8% compared to the same period last year. This includes a 4.1% decline in investment in residential buildings. The floor space of the real estate development enterprises under construction during this period was 7,645.77 million square meters, which is a year-on-year decrease of 5.2%. Among them, the floor space of residential buildings under construction decreased by 5.4%. The floor space of buildings newly started was 241.21 million square meters, which is a decrease of 19.2% compared to the same period last year. Among them, the floor space of residential buildings newly started decreased by 17.8%. However, the floor space of buildings completed during this period increased by 14.7% compared to the same period last year, reaching 194.22 million square meters. Among them, the floor space of completed residential buildings increased by 16.8%. In terms of commercial buildings, the floor space of commercial buildings sold during this period decreased by 1.8% compared to the same period last year, but the sales of residential buildings increased by 7.1%. The sales of commercial buildings reached 3,054.5 billion yuan, which is an increase of 4.1%. Furthermore, the report provides information on the funds for investment for real estate development enterprises during this period, which was 3,470.8 billion yuan, a year-on-year decrease of 9.0%. The report also provides information on the national real estate climate index, which was 94.71 in March. Overall, the report suggests that the investment in real estate development in China has decreased compared to the same period last year. However, there has been an increase in completed buildings, and the sales of residential buildings have also increased. The report also provides data on the investment in real estate development in different regions of China.
http://www.stats.gov.cn/english/PressRelease/202304/t20230420_1938883.html