国家统计局：1—11月全国房地产开发投资同比下降15.9%

Core Viewpoint - The real estate development investment in China for the first eleven months of the year reached 78,591 billion yuan, representing a year-on-year decline of 15.9% [1]. Investment and Construction - Real estate development investment totaled 78,591 billion yuan, with residential investment at 60,432 billion yuan, both showing declines of 15.9% and 15.0% respectively [1][15]. - The total construction area for real estate development was 656,066 million square meters, down 9.6% year-on-year, with residential construction area decreasing by 10.0% to 457,551 million square meters [3][15]. - New construction area was 53,457 million square meters, a decline of 20.5%, with residential new construction area at 39,189 million square meters, down 19.9% [3][15]. - The completed construction area was 39,454 million square meters, down 18.0%, with residential completed area at 28,105 million square meters, a decrease of 20.1% [3][15]. Sales Performance - The sales area of new 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 new commercial housing reached 75,130 billion yuan, reflecting an 11.1% decline, with residential sales revenue down 11.2% to 66,008 billion yuan [4][17]. Inventory and Funding - As of the end of November, the unsold commercial housing area was 75,306 million square meters, a decrease of 301 million square meters from October, with residential unsold area down by 284 million square meters [8]. - The total funds available for real estate development enterprises amounted to 85,145 billion yuan, a decline of 11.9% year-on-year, with domestic loans at 13,149 billion yuan, down 2.5% [8][15]. Market Sentiment - The real estate development prosperity index (National Housing Prosperity Index) stood at 91.90 in November, indicating a lower level of market sentiment [11][22].