National Bureau of Statistics (NBS) data shows that from January to May, national real estate development investment totaled 3,035.6 billion yuan, down 16.2% YoY; of which, residential investment was 2,342.6 billion yuan, down 15.6%. In January–May, floor space of newly built commercial buildings sold was 313.2 million m², down 10.8% YoY; of which residential floor space sold fell 12.1%. Sales value of newly built commercial buildings reached 2,936.6 billion yuan, down 13.5%; of which residential sales value fell 14.1%.
I. Real Estate Development Investment Completion
From January to May, national real estate development investment totaled 3,035.6 billion yuan, down 16.2% YoY (calculated on a comparable basis; see Note 5); of which, residential investment was 2,342.6 billion yuan, down 15.6%.
From January to May, floor space of buildings under construction by real estate development enterprises was 5.4878 billion m², down 12.3% YoY. Of which, residential floor space under construction was 3.8083 billion m², down 12.6%. Floor space of buildings newly started was 179.29 million m², down 22.6%. Of this, residential newly started floor space was 130.84 million m², down 23.4%. Floor space of buildings completed was 140.87 million m², down 23.4%. Of which, residential completed floor space was 99.99 million m², down 25.0%.
II. Sales and Pending Sales of Newly Built Commercial Buildings
In January–May, floor space of newly built commercial buildings sold was 313.2 million m², down 10.8% YoY; of which residential floor space sold fell 12.1%. Sales value of newly built commercial buildings was 2,936.6 billion yuan, down 13.5%; of which residential sales value fell 14.1%.
At month-end May, pending sale area of commercial buildings was 771.82 million m², down 0.4% YoY. Of which, pending sale area for less than 3 years was 571.52 million m², down 2.8%.
III. Funding of Real Estate Development Enterprises
From January to May, funds received by real estate development enterprises totaled 3,275.6 billion yuan, down 19.0% YoY. Of which, domestic loans were 487.5 billion yuan, down 28.7%; self-raised funds were 1,198.5 billion yuan, down 13.0%; deposits and advance receipts were 1,001.2 billion yuan, down 16.1%; and individual mortgage loans were 406.6 billion yuan, down 28.0%.
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