Chinese Real Estate Investment Rises 11.9% YoY in First Four Months of 2019
The latest official data points to a robust rise in Chinese real estate investment for the period from January to April.
Figures released by China’s National Bureau of Statistics on 15 May indicate that nationwide real estate development investment totalled 3.4217 trillion yuan for the first four months of the year, for YoY growth of 11.9% and an acceleration of 0.1 percentage point compared to the January-March period.
The commercial housing sales floorspace for the first four months of 2019 was 420.85 million square metres, for a YoY decline of 0.3%, and a narrowing of 0.6 percentage points compared to the January-March decline.
The commercial housing sales amount was 3.9141 trillion yuan, for a YoY rise of 8.1%, and an acceleration of 2.5 percentage points.
As of the end of April the commercial housing inventory floor space was 513.8 million square metres, for a decline of 2.66 million square metres compared to the end of March.
Rising real estate development investment arrives just as local governments around China step up their property control policies.
Figures from Centaline Property indicate that since April local governments around China have issued over 60 property adjustment control measures, as compared to 104 control measures in the first quarter.