From January to August, national real estate development investment totaled 4.7979 trillion yuan, a year-on-year decrease of 19.9%.

Real estate development investment completion status

From January to August, national real estate development investment totaled 4,797.9 billion yuan, a year-on-year decrease of 19.9% (calculated on a comparable basis, see Note 5 for details); of which, residential investment totaled 3,701.7 billion yuan, a decrease of 19.7%.

From January to August, the total construction area of real estate development enterprises reached 560.77 million square meters, a year-on-year decrease of 12.8%. Of this, the residential construction area was 389.347 million square meters, a decrease of 13.2%. New construction starts totaled 298.94 million square meters, a decrease of 24.8%. Of this, new residential construction starts totaled 218.4 million square meters, a decrease of 25.4%. Completed construction area reached 210.97 million square meters, a decrease of 23.7%. Of this, completed residential construction area was 147.98 million square meters, a decrease of 25.4%.

Sales and inventory of commercial housing

From January to August, the sales area of newly built commercial housing was 498.8 million square meters, a year-on-year decrease of 12.1%; among which, the sales area of residential housing decreased by 13.0%. The sales value of newly built commercial housing was 4.747 trillion yuan, a decrease of 13.0%; among which, the sales value of residential housing decreased by 13.1%. According to data from the Ministry of Housing and Urban-Rural Development, from January to August, the transaction area of second-hand housing (see Note 6) was 549.23 million square meters, a year-on-year increase of 10.6%.

At the end of August, the unsold area of newly built commercial housing was 753.49 million square meters, a year-on-year decrease of 1.1%. Among them, the area unsold for less than 3 years was 548.19 million square meters, a decrease of 4.2%.

Funding situation of real estate development enterprises

From January to August, funds available to real estate development enterprises totaled 5,089.3 billion yuan, a year-on-year decrease of 21.0%. Among them, domestic loans amounted to 688 billion yuan, down 33.3%; self-raised funds totaled 1,843.2 billion yuan, down 20.0%; deposits and advance payments totaled 1,603.7 billion yuan, down 14.8%; and personal mortgage loans totaled 684.6 billion yuan, down 22.4%.

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