National Bureau of Statistics (NBS): National Real Estate Development Investment Reached 7,356.3 Billion Yuan in January–October, Down 14.7% YoY

According to data from the National Bureau of Statistics (NBS), from January to October, national real estate development investment amounted to 7,356.3 billion yuan, down 14.7% YoY; residential investment totaled 5,659.5 billion yuan, down 13.8%. The floor space of newly built commercial buildings sold was 719.82 million m², down 6.8% YoY; residential sales area fell 7.0%. Sales of newly built commercial buildings reached 6,901.7 billion yuan, down 9.6%; residential sales declined 9.4%. At the end of October, the pending sale area of commercial buildings was 756.06 million m², a decrease of 3.22 million m² from the end of September. The residential pending sale area decreased by 2.92 million m².

I. Real Estate Development Investment Completion

From January to October, national real estate development investment reached 7,356.3 billion yuan, down 14.7% YoY (calculated on a comparable basis, see note 6); residential investment was 5,659.5 billion yuan, down 13.8%.

From January to October, the floor space of buildings under construction by real estate development enterprises was 6.5294 billion m², down 9.4% YoY. Residential construction area stood at 4.5525 billion m², down 9.7%. The floor space of buildings newly started was 490.61 million m², down 19.8%. New residential starts totaled 359.52 million m², down 19.3%. The floor space of buildings completed was 348.61 million m², down 16.9%. Residential completions reached 248.66 million m², down 18.9%.

II. Sales and Pending Sale of Newly Built Commercial Buildings

From January to October, the floor space of newly built commercial buildings sold was 719.82 million m², down 6.8% YoY; residential sales area fell 7.0%. Sales of newly built commercial buildings amounted to 6,901.7 billion yuan, down 9.6%; residential sales dropped 9.4%.

At the end of October, the pending sale area of commercial buildings was 756.06 million m², down 3.22 million m² from the end of September. The residential pending sale area decreased by 2.92 million m².

III. Funds Available to Real Estate Development Enterprises

From January to October, funds available to real estate development enterprises totaled 7,885.3 billion yuan, down 9.7% YoY. Domestic loans stood at 1,216 billion yuan, down 1.8%; utilized foreign capital was 1.9 billion yuan, down 37.5%; self-raised funds reached 2,841.9 billion yuan, down 10.0%; deposits and advance receipts were 2,325.7 billion yuan, down 12.0%; individual mortgage loans totaled 1,083.4 billion yuan, down 12.8%.

IV. Real Estate Development Climate Index

In October, the Real Estate Development Climate Index (also known as the "National Real Estate Climate Index") was 92.43.