Real estate 2017

1. The completion of real estate investment

The total investment in real estate development in 2017 was 10.98 trillion yuan($1.63 trillion), a nominal increase of 7.0 percent year-on-year, the growth rate decreased 0.5 percentage points over the first eleven months of 2017. The investment in residential buildings was 7.51 trillion yuan, up by 9.4 percent, a 0.3 percentage points lower rate of increase, and accounted for 68.4 percent of real estate development investment.

In 2017, real estate investment in eastern regions stood at 5.80 trillion yuan, up by 7.2 percent year-on-year, and the growth rate was down by 0.2 percentage points over the first eleven months in 2017; the central regions stood at 2.39 trillion yuan, a rise of 11.6 percent, and a rate lower by 0.8 percentage points; western regions stood at 2.39 trillion yuan, up by 3.5 percent, down by 0.8 percentage points; northeastern regions reached 401.5 billion yuan, an increase of 1.0 percent, and the growth rate was down by 0.4 percent in 2017.

In 2017, floor space under construction by the real estate development enterprises accounted for 7.81 billion square meters, a year-on-year increase of 3.0 percent, and a lower rate by 0.1 percentage point over the first eleven months in 2017. The floor space of the residential building construction area was 5.36 billion square meters, up by 2.9 percent. The floor space started this year was 1.79 billion square meters, up by 7.0 percent, and the growth rate was up by 0.1 percentage point. The floor space of residential buildings started in the year amounted to 1.28 billion square meters, up by 10.5 percent. The floor space of buildings completed stood at 1.01 billion square meters, down by 4.4 percent, and the rate of decrease expanded 3.4 percentage points in 2017. The floor space completed of residential buildings stood at 718.15 million square meters, a decline of 7.0 percent.

In 2017, the land area purchased by real estate development enterprises totaled 255.08 million square meters, up by 15.8 percent year-on-year, and the growth rate decreased by 0.5 percentage points over the first eleven months in 2017. The total transaction of land reached 1.36 trillion yuan, an increase of 49.4 percent, and the pace of increase widened by 2.4 percentage points.