1-5月全国房地产开发投资同比降逾一成

Core Viewpoint - The real estate market in China continues to face deep adjustments, with various indicators showing declines in investment, sales, and construction activities in the first five months of 2025 [1][2][5]. Investment and Development - Real estate development investment reached 36,234 billion yuan, a year-on-year decrease of 10.7% [2]. - Residential investment was 27,731 billion yuan, down 10.0% [2]. - The total construction area for real estate projects was 625,020 million square meters, reflecting a 9.2% decline year-on-year [2]. Sales Performance - New residential property sales amounted to 30,119 billion yuan, a slight decrease of 2.8% compared to the previous year [1][2]. - The total sales area for new commercial housing was 35,315 million square meters, down 2.9% year-on-year [2]. - The sales figures indicate a continued contraction in the market, with various property types experiencing declines [1][2]. Inventory and Financing - As of the end of May, the total unsold commercial housing area was 77,427 million square meters, a reduction of 715 million square meters from April [3]. - The total funds available to real estate developers were 40,232 billion yuan, down 5.3% year-on-year [3]. Regional Analysis - In the eastern region, new commercial housing sales area decreased by 4.5%, while the central region saw a slight increase of 0.3% [3]. - The western region experienced a 2.8% decline in sales area, and the northeastern region had a 6.0% decrease in sales area but a 6.7% increase in sales amount [3]. Market Sentiment - The real estate development prosperity index stood at 93.72 in May, indicating ongoing challenges in the market [4]. - Experts suggest that more efforts are needed to stabilize the market, including reducing mortgage costs and exploring new purchasing models [5].