Official data indicates that growth in Chinese real estate investment remained in double-digit territory in the first half of 2019.
Figures from China’s National Bureau of Statistics (NBS) indicate that during the period from January to June 2019 nationwide real estate development investment was 6.1609 trillion yuan, for a YoY increase of 10.9%, and a deceleration of 0.3 percentage points compared to January – May.
Residential investment was 4.5167 trillion yuan, for a YoY increase of 15.8%, accounting for 73.3% of all real estate development investment over the period.
Broken down by region, during the period from January to June real estate development investment in eastern China totalled 3.318 trillion yuan, for a YoY rise of 9.9%, and an acceleration of 0.2 percentage points compared to the period from January to May.
Central China saw investment of 1.2894 trillion yuan, for a YoY increase of 8.9% and a deceleration of 0.2 percentage points, while western China posted investment of 1.3232 trillion yuan, for an increase of 15.5% and a deceleration of 3.0 percentage points.
North-eastern China saw 230.4 billion yuan in real estate development investment, for growth of 12.7% and an acceleration of 5.6 percentage points.
The real estate development enterprise building construction floorspace for January – June 2019 was 7.72292 billion square metres, for YoY growth of 8.8%, holding steady with the period from January to May.
The residential construction floor space was 5.38284 billion square metres, for growth of 10.3%.
Real estate development enterprises purchased 80.35 million square metres of land during the period from January to June, for a YoY drop of 27.5%, and a deceleration of 5.7 percentage points compared to January -May.
The land transaction sum was 381.1 billion yuan, dropping 27.6%.