2025年1—11月份全国房地产市场基本情况

Core Insights - The real estate development investment in China from January to November reached 78,591 billion yuan, showing a year-on-year decline of 15.9% [1][14] - Residential investment accounted for 60,432 billion yuan, down 15.0% compared to the previous year [1][14] Investment and Construction - The total construction area for real estate development was 656,066 million square meters, a decrease of 9.6% year-on-year [3][15] - The new construction area was 53,457 million square meters, down 20.5%, with residential new construction area at 39,189 million square meters, declining by 19.9% [3][15] - The completed construction area was 39,454 million square meters, down 18.0%, with residential completions at 28,105 million square meters, a decrease of 20.1% [3][15] Sales Performance - The sales area of newly built commercial housing was 78,702 million square meters, down 7.8% year-on-year, with residential sales area decreasing by 8.1% [4][17] - The sales revenue from newly built commercial housing was 75,130 billion yuan, reflecting an 11.1% decline, with residential sales revenue down 11.2% [4][17] Inventory and Financing - As of the end of November, the unsold commercial housing area was 75,306 million square meters, a reduction of 301 million square meters from the end of October [7] - The total funds available to real estate development enterprises amounted to 85,145 billion yuan, down 11.9% year-on-year, with domestic loans at 13,149 billion yuan, a decrease of 2.5% [8][18] Market Sentiment - The real estate development prosperity index stood at 91.90 in November, indicating a lower level of market confidence [11][21]