Chinese January – July Real Estate Development Investment Up 7.9% Year-on-Year

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The latest official data points to a sizeable year-on-year rise in Chinese real estate development investment for the first seven months of 2017.

Data from the National Bureau of Statistics indicates that China’s nationwide real estate development investment was 5.9761 trillion yuan for the period from January – July 2017, for a nominal year-on-year gain of 7.9%.

The figures marks a slide in growth of 0.6 percentage points compared to year-on-year growth of 8.5% for the period from January to June 2017.

Residential housing investment for the first seven months of the 2017 increased 10.0% to reach 4.0683 trillion yuan, for a slide in growth of 0.2 percentage points compared to the period from January to June.

Residential housing currently accounts for 68.1% of total Chinese real estate development investment.

When broken down by region central China saw the strongest real estate investment growth for the January – July period, with a year-on-year gain of 13.8% to reach 1.2612 trillion yuan.

Affluent eastern China still accounts for the preponderance of real estate development investment, with a year-on-year increase of 8.5% pushing the figure for January – July to 3.2069 trillion yuan.

Western China saw an increase of 5.1% across the period to bring its real estate investment total to 1.2901 trillion yuan, while north-eastern China posted a year-on-year drop in investment of 11.3%, dragging down its total to 217.9 billion yuan.

The real estate developer building construction area for the period from January – July saw a year-on-year increase of 3.2% to reach 7.07313 billion square metres, and a slide in growth of 0.2 percentage points compared to the January – June period.

The residential construction area saw an increase of 2.8% in the first seven months of the year to reach 4.83145 billion square metres.

The construction starts area saw an increase of 8.0% to reach 1.00371 billion square metres, while the residential construction starts area saw an increase of 11.9% to reach 717.46 million square metres.

The construction completion area increased 2.4% to reach 470.21 million square metres, and the residential construction completion area fell 0.7% to reach 335.43 million square metres.

The real estate developer land procurement area increased 11.1% year-on-year for the first seven months of 2017 to reach 124.1 million square metres, for an acceleration in growth of 2.3 percentage points compared to the period from January to June.

Land transaction consideration saw a year-on-year increase of 41.0% to reach 542.8 billion yuan, for an acceleration in growth of 2.5 percentage points compared to January-June.

The commercial building sales area was 863.51 million square metres for the January-July period, for a year-on-year increase of 14.0% and an easing in growth of 2.1 percentage points compared to first six months of 2017.

The residential sales area saw a year-on-year increase of 11.5%, the office sales area an increase of 33.7%, and the commercial use building sales area saw an increase of 29.4%.

The commercial building sales amount for January-July saw a year-on-year increase of 18.9% to reach 6.8461 trillion yuan, with the residential sales amount rising 15.9%, the office sales amount rising 27.4% and the commercial building sales amount rising 38.7%.

In July NBS’s Real Estate Climate Index was 101.42, for an increase of 0.04 points compared to June.

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