According to data from the National Bureau of Statistics (NBS), from January to July, national investment in real estate development totaled 4,300.9 billion yuan, down 19.2% YoY; of which, residential investment was 3,317.2 billion yuan, down 19.1%. From January to July, the floor space of buildings under construction by real estate development enterprises was 5.5757 billion m², down 12.7% YoY. Of which, the floor space of residential buildings under construction was 3.8705 billion m², down 13.0%. The floor space of buildings newly started was 267 million m², down 24.0%. Of which, the floor space of residential buildings newly started was 194.9 million m², down 24.6%. The floor space of buildings completed was 191.95 million m², down 23.2%. Of which, the floor space of residential buildings completed was 134.43 million m², down 25.5%. From January to July, the floor space of newly built commercial buildings sold was 450.21 million m², down 11.8% YoY; of which, the floor space of residential buildings sold fell 12.7%. Sales of newly built commercial buildings totaled 4,271.8 billion yuan, down 13.1%; of which, residential sales fell 13.2%.
Basic Conditions of the National Real Estate Market, January–July 2026
I. Real Estate Development Investment Completed
From January to July, national investment in real estate development totaled 4,300.9 billion yuan, down 19.2% YoY (calculated on a comparable basis; see Note 5); of which, residential investment was 3,317.2 billion yuan, down 19.1%.
From January to July, the floor space of buildings under construction by real estate development enterprises was 5.5757 billion m², down 12.7% YoY. Of which, the floor space of residential buildings under construction was 3.8705 billion m², down 13.0%. The floor space of buildings newly started was 267 million m², down 24.0%. Of which, the floor space of residential buildings newly started was 194.9 million m², down 24.6%. The floor space of buildings completed was 191.95 million m², down 23.2%. Of which, the floor space of residential buildings completed was 134.43 million m², down 25.5%.
II. Sales and Pending Sale of Newly Built Commercial Buildings
From January to July, the floor space of newly built commercial buildings sold was 450.21 million m², down 11.8% YoY; of which, the floor space of residential buildings sold fell 12.7%. Sales of newly built commercial buildings totaled 4,271.8 billion yuan, down 13.1%; of which, residential sales fell 13.2%.
At month-end July, the floor space of commercial buildings pending sale was 759.11 million m², down 0.8% YoY. Of which, the floor space pending sale for less than three years was 555.59 million m², down 3.6%.
III. Funds in Place for Real Estate Development Enterprises
From January to July, funds in place for real estate development enterprises totaled 4,574.8 billion yuan, down 20.3% YoY. Of which, domestic loans were 630 billion yuan, down 32.1%; self-raised funds were 1,654.4 billion yuan, down 18.5%; deposits and advance receipts were 1,437.6 billion yuan, down 14.4%; and personal mortgage loans were 604 billion yuan, down 23.5%.
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