NBS: Real Estate Development Investment in China Drops 10.0% in 2022

Published: Jan 17, 2023 11:06
According to the data released by the National Bureau of Statistics (NBS), real estate development investment in China was 13.29 trillion yuan throughout 2022.

SHANGHAI, Jan 17 (SMM) - According to the data released by the National Bureau of Statistics (NBS), real estate development investment in China was 13.29 trillion yuan throughout 2022, a year-on-year decrease of 10.0%, of which the investment in residential housing stood at 10.06 trillion yuan, down 9.5% from 2021. The total floor spaces under construction by real estate enterprises were 9,049.99 million square metres, a year-on-year decrease of 7.2%. Among them, the floor space of residential housing under construction stood at 6,396.96 million square metres, a decrease of 7.3% from 2021. The floor spaces of new housing starts were 1,205.87 million square metres, down 39.4% on the year. Among them, the floor spaces of new residence starts were 881.35 million square metres, a decrease of 39.8%. The floor spaces of new housing completions stood at 862.22 million square metres, down 15.0% YoY. Among them, the floor spaces of new residence completions were 625.39 million square metres, down 14.3% year-on-year.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn