From January to March, the area of commercial housing sales was 299.46 million square meters, a year-on-year decrease of 1.8%, of which the sales area of residential buildings increased by 1.4%. The sales of commercial housing were 3.05 trillion yuan, an increase of 4.1%, of which the sales of residential buildings increased by 7.1%.
Investment in real estate development across China stood at 2.6 trillion yuan in Q1 2023, a year-on-year decrease of 5.8%. This includes 1.98 trillion yuan investment in residential real estate, down 4.1% YoY.
