China Commercial Housing Sales Drop In Q1 2023 In Terms Of Floor Space, So Does Investment In Real Estate Development

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.