中国房地产图表集：你需要的全部图表-China Property Chartbook_ All the charts you need. Wed Mar 18 2026

Summary of China Property Chartbook Industry Overview - The report focuses on the Chinese property market, analyzing various aspects such as sales, construction, supply, policy, and risk assessment [5][6][8]. Key Points National Forecasts - Sales Value: The sales value in RMB billion is projected to decline from 12,473 in 2022 to 7,804 in 2026, reflecting a -31.4% change in 2022 and a -7.0% change in 2026 [8]. - Residential Sales Volume: Expected to decrease from 10,956 in 2022 to 6,827 in 2026, with a -32.7% change in 2022 and -6.9% in 2026 [8]. - Average Selling Price: The average selling price per square meter is projected to increase from 10,214 in 2022 to 9,381 in 2026, with a 0.7% change in 2022 and a -1.5% change in 2026 [8]. Sales Trends - National Residential Sales: The report compares national residential sales with the top 100 developers' aggregate contracted sales, indicating a significant disparity in performance [11][12][22]. - Sales by Tier: The report highlights year-over-year changes in sales across different city tiers, indicating varying market dynamics [26]. Construction Activity - New Starts: New residential construction starts are projected to decline from 1,989 million sqm in 2022 to 259 million sqm in 2026, with a -39.8% change in 2022 [8][120]. - Completion Rates: Residential completions are expected to drop significantly, with a completion of 871 million sqm in 2022 and projected to decline to 343 million sqm by 2026 [8][138]. Supply Dynamics - Inventory Levels: The report discusses the inventory months based on sellable resources, indicating a potential oversupply in certain markets [158]. - Land Sales: Land sales value is projected to decrease from 3,339 billion RMB in 2022 to 1,608 billion RMB in 2026, reflecting a -12.0% year-over-year change [8][164]. Policy Environment - Policy Easing: The report notes that policy easing has been observed since January 2021, which may impact market recovery [175]. - Monetary Policy Tools: The People's Bank of China (PBOC) has implemented various monetary policy tools as of September 2024 to support the real estate sector [177]. Risk Assessment - Market Risks: The report assesses potential risks in the property market, including economic downturns and regulatory changes that could impact sales and construction [5][8]. Long-term Forecasts - Future Projections: Long-term forecasts indicate a continued decline in sales and construction activity, with significant implications for the overall health of the property market [5][8]. Additional Insights - Urban Village Renovation: The report includes scenario analyses on the impact of urban village renovations on real estate investment and property sales, indicating potential for increased demand if executed effectively [138][146]. - Market Share: The market share of state-owned enterprises (SOEs) in land acquisitions and sales is highlighted, showing their dominance in the market [167]. This comprehensive analysis provides a detailed overview of the current state and future outlook of the Chinese property market, highlighting key trends, risks, and policy impacts that investors should consider.