National Bureau of Statistics (NBS): National real estate development investment from January to April fell 13.7% YoY

Data released by the National Bureau of Statistics (NBS) showed that in January-April, national real estate development investment totaled 2,396.9 billion yuan, down 13.7% YoY (on a comparable basis; see footnote 5 for details); of which, residential investment was 1,846.4 billion yuan, down 13.1%.

1. Real Estate Development Investment Completion

In January-April, national real estate development investment totaled 2,396.9 billion yuan, down 13.7% YoY (on a comparable basis; see footnote 5 for details); of which, residential investment was 1,846.4 billion yuan, down 13.1%.

In January-April, the floor space of buildings under construction by real estate developers was 5.4512 billion m², down 12.1% YoY. Of this total, residential floor space under construction was 3.7801 billion m², down 12.5%. Floor space of buildings newly started was 139 million m², down 22.0%. Of which, residential newly started floor space was 100.57 million m², down 23.6%. Floor space of buildings completed was 118.86 million m², down 24.0%. Of which, residential completed floor space was 84.73 million m², down 25.8%.

2. Sales and Pending Sales of Newly Built Commercial Housing

In January-April, the floor space of newly built commercial housing sold was 252.58 million m², down 10.2% YoY, with the decline narrowing by 0.2 percentage point from January-March; of which, residential floor space sold fell 12.2%. Sales revenue of newly built commercial housing was 2,300 billion yuan, down 14.6%, and the decline narrowed by 2.1 percentage points; of which, residential sales revenue fell 15.7%.

At the end of April, the floor space of commercial housing pending sale was 778.01 million m², down 0.5% YoY. Of which, floor space pending sale for less than three years was 579.03 million m², down 2.6%.

3. Funding of Real Estate Development Enterprises

In January-April, funds received by real estate development enterprises totaled 2,669.7 billion yuan, down 18.4% YoY. Of which, domestic loans came to 419.9 billion yuan, down 25.9%; self-raised funds were 983.8 billion yuan, down 10.5%; deposits and advance payments stood at 797.5 billion yuan, down 17.6%; and individual mortgage loans amounted to 308.7 billion yuan, down 31.7%.