Overwhelmed by regulatory pressure, the area of ​​land purchased by Chinese developers was halved last year.

(Reuters)

[Compile Wei Guojin/Taipei Report] According to data released by the National Bureau of Statistics of China on the 17th, compared with the previous year, in 2022, the area of ​​land purchased in China will plunge by 53.4%, the area of ​​new housing construction will decrease by 39.4%, and the price of land transactions will plummet by 48.4%. , the relevant data highlights that after two years of regulatory suppression, China's real estate industry has been severely damaged, and local governments that mainly rely on land transfers for fiscal revenue have also been deeply affected.

Data show that China's real estate investment will drop by 10% annually in 2022, the first decline since records began in 1999, compared with an annual decline of 9.8% in the first 11 months of last year.

The sales area of ​​commercial housing decreased by 24.3% year-on-year, the largest drop since the data was available in 1992. In comparison, the sales area from January to November decreased by 23.3% year-on-year, of which the sales area of ​​residential buildings fell by 26.8%.

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According to the data, the sales of commercial housing will drop by 26.7% in 2022, of which the sales of residential buildings will decrease by 28.3% annually.

By the end of 2022, the area for sale of commercial housing will increase by 10.5% annually, of which the area for sale of residential buildings will increase by 18.4%. Relevant data reflect that China's housing market is very sluggish. How to restore market confidence is one of the key issues to revive China's real estate industry.

The data pointed out that the funds in place of real estate development enterprises decreased by 25.7% year-on-year, while the decline from January to November was 25.7%.

Among them, domestic loans decreased by 25.4%, foreign investment decreased by 27.4%, self-raised funds decreased by 19.1%, and personal mortgages decreased by 26.5%.

China Real Estate Information Group (CRIC) recently reported that new home sales are also one of the main sources of funds for real estate companies, but in December last year, the new home sales of the top 100 developers in China fell by 30.8% year-on-year, and fell 41.6% for the whole year, showing that China The liquidity problem in the real estate industry is serious.

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