Advertisement
Cross-posted from Investing in Chinese Stocks.
China calculates the real estate growth figure as a running total. I calculate the year on year figure for one month alone. In July this growth figure was 11.9%. In August, it slumped to 9.9%. The trend is not looking good for GDP growth in Q3. Here’s the real estate detail from the weekend data dump. The Real estate investment growth rate:
Land purchases by developers (area):
Advertisement
New Home Sales By Area (yellow) and Yuan (blue):
Advertisement
Developer Capital:
| Table 12 Jan-Aug 2014 national real estate development and sal | ||
| Indicators | The absolute amount | An increase ( % ) |
| Real estate investment (￥100M) | 58975 | 13.2 |
| Of which: Residential | 40159 | 12.4 |
| Office | 3384 | 18.7 |
| Commercial space business | 8813 | 22.9 |
| Housing construction area (10,000 square meters) | 652,953 | 11.5 |
| Of which: Residential | 465,243 | 8.3 |
| Office | 26510 | 23.2 |
| Commercial space business | 83768 | 20.5 |
| New housing construction area (10,000 square meters) | 114,382 | -10.5 |
| Of which: Residential | 80174 | -14.4 |
| Office | 4544 | 10.7 |
| Commercial space business | 15814 | -0.5 |
| Housing area (10,000 square meters) | 49759 | 6.7 |
| Of which: Residential | 38036 | 4.8 |
| Office | 1272 | 13.8 |
| Commercial space business | 5659 | 10.0 |
| Land acquisition area (10,000 square meters) | 20787 | -3.2 |
| Land transaction price (￥100M) | 5694 | 12.8 |
| Sales of commercial area (10,000 square meters) | 64987 | -8.3 |
| Of which: Residential | 57094 | -10.0 |
| Office | 1402 | -8.9 |
| Commercial space business | 4521 | 6.4 |
| Commercial sales (￥100M) | 41661 | -8.9 |
| Of which: Residential | 34314 | -10.9 |
| Office | 1693 | -19.5 |
| Commercial space business | 4590 | 7.5 |
| Real estate for sale (10,000 square meters) | 56160 | 26.6 |
| Of which: Residential | 37047 | 26.9 |
| Office | 2204 | 31.9 |
| Commercial space business | 10776 | 25.7 |
| Real estate development enterprise funds in place (￥100M) | 79062 | 2.7 |
| Of which: domestic loans | 14664 | 13.8 |
| Utilization of foreign capital | 341 | -0.9 |
| Self-financing | 32618 | 11.6 |
| Other funds | 31440 | -8.9 |
| Among them: the deposit and advance payment | 18905 | -10.7 |
| Individual mortgage loans | 8697 | -4.5 |
Advertisement
| Table 2 Jan-Aug 2014 East-Central-West Real Estate Investment | ||||
| Land area | Investment (￥100M) | An increase ( % ) | ||
| Residential | Residential | |||
| Total national | 58975 | 40159 | 13.2 | 12.4 |
| Eastern | 33525 | 22657 | 13.6 | 13.0 |
| Central | 12289 | 8674 | 10.6 | 11.8 |
| Western | 13160 | 8828 | 14.4 | 11.3 |
| Table 3 Jan-Aug 2014 East-Central-West Real Estate Sales | ||||
| Area | Real estate sales | Commercial sales | ||
| Absolute (10,000 square meters) | An increase ( % ) | Absolute (￥100M) | An increase ( % ) | |
| Total national | 64987 | -8.3 | 41661 | -8.9 |
| Eastern | 30485 | -15.0 | 24128 | -15.5 |
| Central | 17410 | -1.7 | 8709 | 1.6 |
| Western | 17093 | -1.1 | 8824 | 2.7 |
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Advertisement