NBS: National Real Estate Development Investment Fell 18.0% YoY in January–June

According to the National Bureau of Statistics (NBS), in the first six months, China's real estate development investment totaled 3,807.4 billion yuan, down 18.0% YoY, of which residential investment was 2,930 billion yuan, down 17.8%.

I. Real Estate Development Investment Completion

In the first six months, China's real estate development investment amounted to 3,807.4 billion yuan, down 18.0% YoY (on a comparable basis; see Note 5 for details), of which residential investment was 2,930 billion yuan, down 17.8%.

In the first six months, the floor space of buildings under construction by real estate development enterprises was 5.5405 billion m², down 12.5% YoY. Of this, residential floor space under construction was 3.8445 billion m², down 12.9%. The floor space of buildings newly started was 232.39 million m², down 23.4%. Of this, residential floor space newly started was 169 million m², down 24.1%. The floor space of buildings completed was 172.21 million m², down 23.7%. Of this, residential floor space completed was 121.48 million m², down 25.3%.

II. New Commercial Housing Sales and Pending Sale Status

In the first six months, the floor space of new commercial buildings sold was 401.4 million m², down 11.6% YoY, of which residential floor space sold fell by 12.4%. The sales value of new commercial buildings was 3,794.5 billion yuan, down 13.6%, of which residential sales value fell by 13.7%.

At the end of June, the pending sale area of commercial buildings stood at 763.15 million m², down 0.9% YoY. Of this, the pending sale area for less than three years was 561.67 million m², down 3.5%.

III. Funding for Real Estate Development Enterprises

In the first six months, funds received by real estate development enterprises reached 4,023.3 billion yuan, down 20.2% YoY. Of this, domestic loans were 571.6 billion yuan, down 31.7%; self-raised funds were 1,474 billion yuan, down 16.4%; deposits and advance receipts were 1,244.2 billion yuan, down 15.8%; and individual mortgage loans were 513.7 billion yuan, down 24.9%.