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China: Real Estate Market Operations from January to October 2008
added: 2008-11-26

The accumulated investment of real estate development from January to October amounted to 2391.8 billion yuan, a year-on-year increase of 24.6 percent, dropped 1.9 percentage points compared with that from January to September. Of the total, the investment of marketable residential buildings reached 1748.2 billion yuan, up by 27.4 percent over the same period last year, 1.3 percentage points lower compared with that from January to September, a share of 73.1 percent to the accumulated investment of real estate development.

The overall floor space under construction of housing for all real estate enterprises was 2.48 billion square meters during the past ten months, a year-on-year rise of 18.7 percent. Floor space started in this period was 79 million square meters, up by 7.3 percent, floor space completed 31 million square meters, increased 9.1 percent. Of which, the completed floor space of residential buildings was 250 million square meters, an increase of 7.6 percent.

From January to October, the land space purchased by real estate enterprises was 300 million square meters, decreased 5.6 percent; the land space developed amounted to190 million square meters, dropped 2.5 percent over the same period of the previous year.

The sale and vacancy of marketable dwelling houses

The floor space of marketable dwelling houses sold from January to October was up to 450 million square meters, decreased 16.5 percent, of which, the floor space of residential buildings sold dropped 17.0 percent. The sale of marketable dwelling houses was up to 1759 billion yuan, down by 17.4 percent, of which, the sale of residential buildings decreased 18.2 percent.

By the end of October, the vacant floor space of marketable dwelling houses was 133 million square meters, a year-on-year rise of 13.1 percent, or 2.9 percentage points higher than that from the January to September. Of which, the vacant floor space of residential buildings was 68.35 million square meters, up by 18.0 percent, or 3.9 percentage points higher than that from the January to September this year.

The funding sources of real estate development

The total fund from all sources of real estate enterprises acquired during the passed ten months this year amounted to 3070 billion yuan, up by 6.4 percent, year-on-year. Of which, domestic loans, self-raising fund reached 596.1 and1227.3 billion yuan, respectively, up by 6.2 and 31.7 percent; while the fund of other sources amounted to 1193.1 billion yuan, down by 11.3 percent. Of which, personal mortgage was up to 280.6 billion yuan, decreased 22.9 percent.

The sale price index of houses of 70 cities

The sale price index of 70 cities rose by 1.6 percent in October, 1.9 percentage points lower than that in the previous month; decreased 0.3 percent on a month-on-month basis.

The sale index of newly built residential buildings increased 1.8 percent, a 2.1 percentage points increase lower than it was in last month, or down by 0.3 percent on a month-on-month basis.

Comparing with last October, the sale price index of economically affordable housing up by 0.8 percent, 0.5 percentage points lower of increase than it was in September. The sale index of residential buildings up by 1.9 percent, 2.4 percentage points lower than it was in September. Common and luxury residential buildings rose 1.5 and 3.3 percent, respectively, a decrease of 2.4 and 2.2 percentage points lower than a month ago.

On month-on-month basis, the sale index of economically affordable housing leveled out with that in the previous month. The sale index of residential buildings went down by 0.3 percent, common and luxury residential buildings down by 0.3 and 0.4 percent, respectively.

The sale index of floor space at or below 90 square meters was down by 0.3 percent from last month, or down by 0.5 percent from last December.

4 cities got a year-on-year increase of at least 8.0 percent on newly residential buildings--Haikou: 13.6%, Yinchuan: 9.8%, Wenzhou: 8.4%, Jinhua: 8.1%; while 11 cities decreased--Shenzhen: 15%, Guangzhou: 7.4%, Chongqing 3.5%, Kunming 2.9%, Huizhou: 2.8%, Nanjing 2.6%. Comparing with September, Among the 70 cities, 21 cities shot up on sale of newly marketable dwelling houses: Zhanjiang: 1.9%, Wenzhou:1.0%; 19 cities got a fine increase about 1.0%; 14 cities sale of index remained stable; while 35 cities index declined (varied from 0.1%-2.5%)--Shenzhen: 2.5%, Guangzhou: 1.8%, Guilin: 1.4%, Xiamen: 1.2%, Xiangfan: 1.1%.

Sale index of second-handed residential buildings climbed 0.8 percent, year-on-year, 1.8 percentage points lower from September, a decrease of 0.4 percent, month-on-month.

55 cities’ index on second-handed residential buildings shot up on year-on-year basis--Sanya: 12.9%, Yichang: 11.0%, Lanzhou: 10.5%, Taiyuan: 10.3%, Yinchuan: 9.7%; while15 cities’ index fell-- Shenzhen: 17.4%, Zhengzhou: 4.4%, Wenzhou: 4.2%, Xiamen: 3.7%, Chongqing: 3.1%. In month-on-month regard, 23 cities’ index went up--: 0.8% of Shenyang, Haikou and Xining, 0.6% of Taiyuan and Guiyang; that for 29 cities declined--Dali: 2.2%, Shenzhen: 2.0%, Urumqi: 1.9%, Hohhot: 1.4%, Tangshan: 1.3%.

National Real Estate Climate Indices

National real estate climate index in October was 99.68, 1.47 percentage points lower from the previous month, a year-on-year decrease of 6.06 points.

Index of investment in the development in real estate gained 101.94, 1.28 points lower from September, dropped 2.48 points from last October, Index of fund source was 92.64, dropped 2.49 points from last month, fell 12.26 points from last October; index of land spaces developed and of vacancy marketable dwelling houses reached 95.05 and 101.25, 0.64 and 2.29 points lower from September, or dropped 2.57 and 9.46 points, year-on-year. Index of floor space under construction was 103.28, fell 1.28 points, month-on-month, or fell 2.36 points, year-on-year.


Source: National Bureau of Statistics of China

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