Real estate 2016

1. The completion of real estate investment

The total investment in real estate development in 2016 was 10.26 trillion yuan($1544.34 billion), a nominal increase of 6.9 percent year-on-year (the real growth rate was 7.5 percent, after deducting price factors), 0.4 percentage points higher over the first eleven months. The investment in residential buildings was 6.87 trillion yuan, up by 6.4 percent, a 0.4 percentage points higher rate of increase, and accounted for 67.0 percent of real estate development investment.

In 2016, real estate investment in eastern regions stood at 5.62 trillion yuan, up by 5.6 percent over last year, and the growth rate went up by 0.4 percentage points over the first eleven months; the central regions stood at 2.33 trillion yuan, a rise of 10.7 percent, and an increase of  0.1 percentage point; western regions stood at 2.31 trillion yuan, up by 6.2 percent, and an increase in rate of 0.4 percentage points.

In 2016, floor space under construction by the real estate development enterprises accounted for 7.59 billion square meters, up by 3.2 percent over last year, and a higher rate by 0.3 percentage points over the first eleven months. The floor space of the residential building construction area was 5.21 billion square meters, up by 1.9 percent. The floor space started this year was 1.67 billion square meters, up by 8.1 percent, and the growth rate increased 0.5 percentage points. Specifically, the floor space of residential buildings started in the year amounted to 1.16 billion square meters, up by 8.7 percent. The floor space of buildings completed stood at 1.06 billion square meters, up by 6.1 percent, and the growth rate dropped by 0.3 percentage points. The floor space completed of residential buildings stood at 771.85 million square meters, an increase of 4.6 percent.

In 2016, the land area purchased by real estate development enterprises totaled 220.25 million square meters, a decrease of 3.4 percent over last year, and the pace of decline narrowed by 0.9 percentage points over the first eleven months. The total transaction of land reached 912.9 billion yuan, increased 19.8 percent, and the growth rate dropped by 1.6 percentage points.