According to data from the National Bureau of Statistics (NBS),
I. Real Estate Development Investment
From January to April, national real estate development investment totaled 2,396.9 billion yuan, down 13.7% YoY (calculated on a comparable basis; see Note 5 for details), of which residential investment was 1,846.4 billion yuan, down 13.1%.
From January to April, the floor space of buildings under construction by real estate development enterprises was 5.4512 billion m², down 12.1% YoY, of which residential construction floor space was 3.7801 billion m², down 12.5%. The floor space of buildings newly started was 139 million m², down 22.0%, of which residential newly started floor space was 100.57 million m², down 23.6%. The floor space of buildings completed was 118.86 million m², down 24.0%, of which residential completed floor space was 84.73 million m², down 25.8%.
II. Sales and Pending Sale of Newly Built Commercial Buildings
From January to April, the floor space of commercial buildings sold (newly built) was 252.58 million m², down 10.2% YoY, with the decline narrowing by 0.2 percentage points compared with January to March, of which residential sales floor space fell 12.2%. Sales revenue of newly built commercial buildings was 2,300 billion yuan, down 14.6%, with the decline narrowing by 2.1 percentage points, of which residential sales revenue fell 15.7%.
At the end of April, the floor space of commercial buildings pending sale was 778.01 million m², down 0.5% YoY, of which the floor space pending sale for less than three years was 579.03 million m², down 2.6%.
III. Funds Received by Real Estate Development Enterprises
From January to April, funds received by real estate development enterprises totaled 2,669.7 billion yuan, down 18.4% YoY, including domestic loans (419.9 billion yuan, down 25.9%), self-raised funds (983.8 billion yuan, down 10.5%), deposits and advance receipts (797.5 billion yuan, down 17.6%), and individual mortgage loans (308.7 billion yuan, down 31.7%).
