Real estate 2018

1. The completion of real estate investment

The total investment in real estate development in the first twelve months of 2018 was 12.03 trillion yuan($1.82 trillion), an increase of 9.5 percent year-on-year, a decline of 0.2 percentage points over the first eleven months, 2.5 percentage points higher than the same period of 2017. The investment in residential buildings was 8.52 trillion yuan, up by 13.4 percent, the growth rate decreased 0.2 percentage points over the first eleven month, a 4.0 percentage points higher rate of increase, and accounted for 70.8 percent of real estate development investment.

In 2018, real estate investment in eastern regions stood at 6.44 trillion yuan, up by 10.9 percent year-on-year, the growth rate decreased 0.4 percentage points over the first eleven months of 2018; the central regions stood at 2.52 trillion yuan, up by 5.4 percent, and a decrease in rate of 0.5 percentage points; western regions stood at 2.60 trillion yuan, up by 8.9 percent, up by 0.7 percentage point; northeastern regions reached 472 billion yuan, an increase of 17.5 percent, and the growth rate increased 1.3 percentage points.

In 2018, floor space under construction by the real estate development enterprises accounted for 8.22 billion square meters, a year-on-year increase of 5.2 percent, increased 0.5 percentage point over the first eleven months, and 2.2 percentage points higher than 2017. The floor space of the residential building construction area was 5.70 billion square meters, up by 6.3 percent. The floor space started this year was 2.09 billion square meters, up by 17.2 percent, and the growth rate was up by 0.4 percentage points, and 10.2 percentage points higher than 2017. The floor space of the residential buildings started in the year amounted to 1.53 billion square meters, up by 19.7 percent. The floor space of buildings completed stood at 935.5 million square meters, a decline of 7.8 percent, and the pace of decline narrowed 4.5 percentage points, and 3.4 percentage points expanded than 2017. The floor space completed of residential buildings stood at 660.16 million square meters, a falling off of 8.1 percent.

In 2018, the land area purchased by the real estate development enterprises totaled 291.42 million square meters, up by 14.2 percent year-on-year, the growth rate was down by 0.1 percentage point over the first eleven months in 2018, and 1.6 percentage points lower than 2017. The total transaction of land reached 1.61 trillion yuan, an increase of 18 percent, and the pace of growth rate went down by 2.2 percentage points over the first eleven months, and 31.4 percentage points lower than 2017.