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China National Real Estate Development Investment Falls 16.2% YoY in First Five Months, vs Forecast -14%
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China’s National Bureau of Statistics announced that National Real Estate Development Investment totaled RMB3.04 trillion in the first five months, down 16.2% YoY. Of which, residential investment amounted to RMB2.34 trillion, down 15.6% YoY. In the first five months, the floor area of properties under construction by real estate developers was 5.488 billion square meters, down 12.3% YoY. Of which, residential floor area under construction fell 12.6% YoY. New housing starts declined 22.6% YoY, while new residential starts dropped 23.4% YoY. Completed floor area fell 23.4% YoY, with residential completions down 25.0% YoY. In the first five months, sales floor area of newly built commercial housing was 313 million square meters, down 10.8% YoY. Of which, residential sales floor area fell 12.1% YoY. Sales value of newly built commercial housing amounted to RMB2.94 trillion, down 13.5% YoY, while residential sales value decreased 14.1% YoY. As at end-May, the floor area of commercial housing available for sale edged down 0.4% YoY. Of which, inventory aged three years or less fell 2.8% YoY. In the first five months, funds in place for real estate developers totaled RMB3.28 trillion, down 19% YoY. Of which, domestic loans fell 28.7% YoY; self-raised funds dropped 13% YoY; deposits and advance receipts decreased 16.1% YoY; and individual mortgage loans declined 28% YoY. (jl/a) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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